发布时间： 2020-03-25 18:24:14 浏览： 1453
Announcement on Reasons for Spreads Extension
Due to the epidemic of COVID-19 in Europe, since noon on March 24, high volatility across the markets is leading to sharp moves between futures and spot markets prices. The gold quotes of major banks in the world have continued to have problems, and the entire market has extremely high spreads. Discontinued transactions and vary quotes from major brokers is happening. Upway 金榮 will adopt a floating method to adjust the spread fee according to the actual market conditions, because it is affected by the volatility and liquidity of the trading market, when the market fluctuates or the market is not sufficiently liquid. Spread will drop immediately after the market recovers.
Market interpretation of the following reasons:
1. Stock market plummeted earlier, physical gold was liquidated as leveraged funds scrambled to liquidate safe assets in exchange for cash to cover additional margin.
2. The PM of UK issues stay-at-home order, sending UK into lockdown to fight coronavirus pandemic. Due to concerns about price distortions in the London market, European trader orders based on the London market flooded into COMEX gold futures to form a spread.
3. The virus has upended the global supply chain for precious metals. Gold mines shut down and airline industry disruption makes physical gold undeliverable.
4. The quantitative easing (QE) and fiscal stimulus measures of central banks in various countries have caused market expectations for future gold demand to increase significantly.
根據路透社消息顯示，芝商所（CME）將推出新的黃金期貨合約，並且正在與Comex和其他主要利益相關者緊密合作，以確保全球黃金市場的有效運轉。同時，為了穩定貴金屬市場， CME提高COMEX100黃金期貨維持保證金19.3% 以打擊市場過度投機的氣氛。
According to Reuters, CME to launch new gold futures contract with expanded delivery options due to the coronavirus outbreak. It is working closely with Comex and other key stakeholders to ensure the efficient operation of the global gold market. At the same time, in order to stabilize the precious metals market, CME raised the maintenance margin of COMEX 100 gold futures by 19.3% to combat the atmosphere of excessive speculation in the market.
UPWAY金榮 is doing our best to manage these issues for our clients. However, investors need to be vigilant for spread extension again in next few days. Please pay attention to the risk of holding positions and maintain a sufficient margin. If the account margin is insufficient, you will be forced liquidation to prevent risk expansion.
Upway金榮 offers all customers online consulting services for whole day. If you have any further queries, don't hesitate to contact us.