Metal refers to an element or compound which is a good conductor for electricity and heat. Usually, it’s shiny, malleable and ductile. Some of those metals are called Precious since they are rare ones and or highly demanded. Historically, precious metals were traded for the purposes of industrial raw materials, jewelries and of course, as exchanging medias. Bulk form of precious metals are known as bullion. The bullion were casted into ingots and coins for the later purpose.Nowadays, bullion is listed on the commodity markets, and soon become belle among traders and investors. The dynamic-duo which are showing significant domination over the market are Gold and Silver. They are both often seen as an instrument of protection against inflation.Unlike jewelry, Gold and Silver bullions on the market doesn’t consist any artistic value. Typically, there are only two measurements for them. The first one’s based on Weight (kilogram/kg and troy ounce/oz). Another one is, the market itself, which divided into Buy (Long) and Sell (Short), in sequence represents Demand and Supply.
Transaction in precious metal commodity is based on a contract through Over The Counter (OTC) and Inter-Bank Market. All accounts for individuals are open in US$, and no funding facilities are accepted, including Bank Guarantees, Custodian Services, etc. First State Futures is services are optimized for institutional trading activities. Recommended deposit size for this type is considered more than US$ 10,000. For minimum deposit size, would be varied, depends on the client’s profile and type of account.
|CODE||DECIMAL||CONTRACT SIZE||TICK SIZE||SPREAD START||US $ / TICK||MAX LOT / ENTRY||INTEREST CHARGE||INTEREST 3 TIMES|
|XAU / USD||2||100 OZ||0.05||0.04||$5||10||BY %||WED|
|XAG / USD||2||5.000 OZ||0.01||0.04||$50|
Similar to Foreign Exchange, Precious Metals are traded almost 24 hours a day. The only difference is, there are market breaks twice per day for Gold and once for Silver. The breaking process is called Gold and Silver Fixing, with the exception of UK Bank holidays. Fixingâ€™s scheduled at 05:30 AM EST (Morning Fix) and then at 10:00 PM EST (Afternoon Fix) for Gold, and as for Silver at 07:00 AM EST.During fixing, no transactions are allowed. Pending orders, both Stop Loss and or Taking Profit orders, canâ€™t be placed. All existing pending orders will be remove and cancelled. Normally, fixing takes 15 minutes time to complete.Break time monday to friday from 16:30 PM until 16:45 PM on New York time. During break time clients no able to do any transaction, all the LO / SO, SL / TP can not be placed and canceled during break timeFor any market holiday or any changing of market hours will be announce to customers by electronic mail (e-mail) and will be announce through the trading platform or through the web-site.
|Frankurt||02:00 â€“ 23:00||20:00 â€“ 05:00|
|London||03:00 â€“ 12:00||08:00 â€“ 17:00|
|New York||08:00 â€“ 17:00||13:00 â€“ 22:00|
|Singapore & Hong Kong||20:00 â€“ 05:00||01:00 â€“ 10:00|
|Tokyo||19:00 â€“ 04:00||00:00 â€“ 09:00|