Intercontinental Exchange Launches Gold Futures Trading in London

According to a report by Financial Times on October 6, Intercontinental Exchange (ICE) has started offering gold futures trading in London, marking the latest attempt to introduce precious metal derivatives in this global physical bullion trading hub. This week, the exchange launched precious metal contracts linked to London’s daily auction prices. In addition to gold, the company has also introduced contracts for silver, platinum, and palladium. London is the world's largest physical gold trading market, with daily over-the-counter trading volumes nearing $190 billion and physical gold stored in its vaults valued at approximately $1.4 trillion. However, unlike New York, London has not offered gold futures contracts in recent years, and previous attempts have all ended in failure.