IB clients: How to invest in GOLD ?

Discussion in 'Retail Brokers' started by joesan, Jul 24, 2007.

  1. joesan


    Hi , I am an interactivebrokers client and hope to buy some gold with two motives:

    1--My base currency is USD, so it is depreciating every month, I hope to hedge some risk

    2--My home currency is RMB ( Chinese Dollar), but now China is starting to have problem of inflation, therefore it is not safe either to save money in RMB.

    I tried to diversify the capital in my account to some strong currency but now I hope to do something more. I hope to transferring some of my RMB savings in domestic Chinese bank to my IB trading account and make some investment in gold, which is IMO the ultimate sustaining buying power. I want to know then , which instruments/investment tools related to gold IB clients can buy . I can consider tools both with or without margin , high leverage is not a must here as the main purpose is preservation of buying power, rather than speculation.

    Also, suggestion of other investment idea is welcome. Thanks
  2. zdreg


    i read that in china there is a gold futures trading.
  3. mwerbe


    You can buy the etf with the ticker symbol gld. It tracks the price of an ounce of gold.
  4. joesan


    Yes, there is a gold exchange in Shanghai, China, but I am not sure if that is standardized futures contract eligible for individual investors. I am more familiar with commodity futures in China and know that gold is not listed as a futures contract in three main futures exchanges in China.

    But the point is that my main income originates from trading accounts in IB and I want to spare the inconvenience of remitting the money back if there is some gold-related symbols in IB TWS.
  5. joesan


    Thanks a lot , I will have a look at that, may be what I need.

    Info of other symbols are welcome.
  6. You can trade the gold futures. GC is the symbol on Comex for the 100 oz contract. You can also trade a mini contract symbol YG, I think in Chicago. 33 oz contract.