ICE Launches Precious Metals Futures Contracts in London - Yahoo Finance UK

AI desk brief

ICE has started trading London precious-metals futures linked to its daily auction prices for gold, silver, platinum and palladium, creating a new hedge vehicle for the physical bullion market. The contracts range from same-day settlement to six months and clear through ICE’s London operation; ICE says the structure is designed to support the physical market and link risk management to the auction benchmark.

The article highlights London’s scale as a bullion hub, citing more than $190bn of OTC physical gold transactions daily and about $1.4tn of bullion held in the city. Auction participation has risen from four firms to 20 since ICE acquired the gold benchmark about a decade ago, while daily auction volumes now exceed 424,000 oz, up more than 30% since 2015. It also notes the U.S. CME gold futures market averaged about $125bn of daily trading volume in H1, and that trade-policy shifts in 2025 pushed gold flows toward the U.S. when New York futures traded above London physical prices.