Intercontinental Exchange, the owner of the New York Stock Exchange, has launched gold futures trading in London, bringing exchange-traded precious-metal derivatives to the world’s largest physical bullion market.
The exchange began offering gold futures this week, with contracts linked to London’s daily gold price auctions, alongside new futures for silver, platinum and palladium. London’s vaults hold gold worth about $1.4 trillion and daily over-the-counter turnover approaches $190 billion.
It is not the first attempt: the London Gold Futures Market launched in 1982 and closed in 1985, and the London Metal Exchange’s gold contract was discontinued in 2022.
ICE already operates the daily auctions that set benchmark prices for gold and silver, and now wants to give London’s physical market an exchange-based way to trade gold price exposure.
