Take the CME Group Gold Challenge Gold futures at CME Group are one of the most traded futures contracts today. Many traders use Gold futures as a safe-haven contract during times of economic uncertainty. Now CME Group invites you to put your knowledge of their Gold markets to the test. The winner will walk away with a 1 oz. gold bar. Playing is simple: Between May 22 - June 1, 2017, enter your prediction for the June 30, 2017 closing price of the August Gold futures contract (GCQ7). Closest without going over wins. Good Luck! Enter Contest
My advice for everyone is don't trade Gold, invest yes, but trade no. Gold futures are the dirtiest and scummiest of all the futures contracts and the Exchanges never seem to do anything about it. How many times have we seen a trader dump 2,000-5,000 contracts at market at 2am London time, the thinnest time for trading. If your or I were to do that they'd be knocking at our doors within hours wanting to know what's going on. Do they ever ask questions of whoever keeps dumping all those contracts? I very much doubt it. That tells you all you need to know...
Sounds more like an opportunity to me... usually anyone dumping size at the market in illiquid hours would lose out.. so why don't you take advantage of that?
I don't know about 2am London time, but I have observed Australian Mkt closing times recently. Look at today for example, very typical recently at least of reacting hard when Aussie closes. Haven't bothered looking way back in time as not my cuppa tea gold futures so not interested in researching further. I think trading the stocks would be more managable, at least you wouldn't need to be watching 24 hours. Predicting any futures contract would be difficult.