There has been a surge in Gold Futures contracts opting for delivery ... While we can see that current COMEX gold stocks appear sufficient, at the moment, to meet immediate delivery demands ...

The original standard-size gold contract (GC) trades 100 ounces per contract. At the current price for the February futures contract of $2,636 per ounce, the nominal value of the contract is $263,600.

The original standard-size gold contract (GC) trades 100 ounces per contract. At the current price for the February futures contract of $2,636 per ounce, the nominal value of the contract is $263,600.

Today, the most active June 2023 futures contract opened at $1990 ... The first leg of the current bull market moved gold from $1620 to approximately $1975 during the first week of February.