taking delivery of gold futures

Discussion in 'Metal Futures' started by western, Oct 2, 2008.

  1. western

    western

    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?
     
  2. 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
     
  3. rosy2

    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
     
  4. 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.
     
  5. We are only talking 100 ounces here, Hardly requires an 18-wheeler...