HKEX gold futures hit post-2018 delivery high with 145kg of physical settlement
AI Market Summary
HKEX gold futures hit a record 145kg single-day physical delivery after a July 6 relaunch and fee waiver, signaling improved liquidity and growing participation. Concurrently, the US Treasury's plan to at least double long-dated bond buybacks supported gold as rate-volatility hedging demand strengthened. Together, stronger exchange microstructure and supportive macro liquidity dynamics underpin near-term gold market firmness.
Impact level
● Medium
Affected assets
NCCOGOLD2USD/USDT+2.29%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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HKEX gold futures recorded physical delivery of 145kg on Wednesday, more than double the previous 63kg record set in December 2018, marking the contract’s highest single-day tally since its 2018 launch. The contract was relaunched on July 6 with a market-wide waiver of the US$1 per-contract trading fee, and it has averaged 9,974 contracts a day with total trading value of US$1.35 billion. On the same day, the US Treasury said it would at least double the size of its liquidity-support buyback operations for long-dated bonds, and gold rose to about US$4,540 per ounce on Friday.
