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Old Oct 2nd, 2008, 02:48 PM   #1
western
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Join Date: Mar 2008
Posts: 161
which futures brokers allow you to take actual delivery of gold futures?

Has anyone actually done so and do you know what the costs are?
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Old Oct 2nd, 2008, 03:05 PM   #2
Compulsive
 
 
Join Date: May 2007
Location: PLUTO
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Gold delivered against the futures contract must bear a serial number and identifying stamp of a refiner approved and listed by the Exchange. Delivery must be made from a depository licensed by the Exchange.

http://www.nymex.com/GC_spec.aspx
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Old Oct 2nd, 2008, 03:21 PM   #3
rosy2
 
 
Join Date: Aug 2006
Posts: 1,399
when you take delivery you dont get the commodity dropped off at your door. it sits in a warehouse, silo, or farm with your name on the paperwork
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Old Oct 2nd, 2008, 10:00 PM   #4
lorax2013
 
 
Join Date: Nov 2007
Posts: 194
I took delivery of a platinum contract a few years ago. I used Lind Waldock although technically any brokerage can do it. A larger broker will have gone through the process many times and it may be a little easier. If I remeber right the buy/sell slippage is around 2% after all costs - which makes it pretty much the cheapest way to take delivery of precious metals. You can pay for storage in NY or you can take delivery in person in many major cities. Just contact a large futures broker and they can run through all the current costs with you - don't forget the re-assay fee when you sell back.
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Old Oct 2nd, 2008, 11:28 PM   #5
TraderZones
 
 
Join Date: Mar 2008
Posts: 6,706
Quote:
Quote from rosy2:

when you take delivery you dont get the commodity dropped off at your door. it sits in a warehouse, silo, or farm with your name on the paperwork
We are only talking 100 ounces here, Hardly requires an 18-wheeler...
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