NYSE Owner Starts Gold Futures in London, a Market Without One Since 2022 - TradingView

AI desk brief

ICE has started trading London gold futures alongside silver, platinum and palladium, reviving a local futures venue for metals that had lacked one since the LME shut its contract in 2022. The contracts are tied to ICE’s London auction benchmarks and clear in the UK, with the move potentially making the April-style New York/London price dislocations less likely.

The backdrop is large: London handles nearly $190bn a day in OTC gold and holds about $1.4tn of bullion in vaults, while CME gold futures still dominate with roughly $125bn in average daily trading in H1. ICE said derivatives support the physical market, and the article also notes De Nederlandsche Bank moved more than 78 tonnes of gold from New York to London last month amid rising geopolitical unrest.