Originally Posted by Danny
When you buy gold, are you buying a gold future, or are you buying actual gold by the ounce? I know nothing about the futures markets or precious metals. I am only basing that on actual gold prices.
When you buy gold, are you buying a gold future, or are you buying actual gold by the ounce? I know nothing about the futures markets or precious metals. I am only basing that on actual gold prices.
You are buying futures (this is how all commodities are traded) which come in contract sizes. Gold contract size is 100 troy ounces, which has a value of $95K+/-. The leverage amount of your trading account dictates how much margin (account value) you would need to purchase it (around 7500$ according to a futures calculator).
There are also mini-contracts, which make it more affordable.
Also, plenty of people aculattly buy bullion gold, or silver. Many places will sell you actual gold/silver bars for spot price plus a little. Then u get to act like a gangster and have a breifcase full of gold bars. But this is a CASH deal (or credit card lol). No leverage is available when buying bullion.
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