Gold futures began trading today (Monday) in the derivatives market of Hong Kong Exchanges and Clearing Limited (HKEx) with a total turnover of 480 contracts (October: 233; November: 90 and December: 157).

"Gold futures are an ideal investment tool for investors who are interested in managing their gold price exposure or gaining exposure in a transparent and regulated environment,” Calvin Tai, Head of HKEx's Derivatives Market Department, said.  “We appreciate the support of our Exchange Participants, including the three liquidity providers for gold futures and the Exchange Participants which took part in our joint promotion and education programmes.”

"We are pleased with today’s smooth rollout of our gold futures contract, which further expands the HKEx derivatives market’s product range amid growing interest in exchange-traded gold products,” HKEx Chief Executive Paul Chow said. 

“We always take a long-term view on new products since they often take time to develop so we do not have any specific volume or open interest targets for gold futures,” Mr Chow added.