Hong Kong Gold Futures Contract Sees Record Physical Delivery Amid Global Market Shift

Hong Kong's dollar-denominated gold futures contract has seen a significant surge in physical delivery, reaching a record high of 145kg on August 19. This marks the highest single-day delivery since the contract was launched in 2018.

The previous delivery record was set in December 2018 at 63kg. The HKEX reported a substantial increase in interest in its dollar-denominated gold contract after revitalizing it last month with several policy changes.

In July, HKEX implemented measures to boost liquidity, including waiving trading fees and establishing incentive programs for designated liquidity providers and active traders. These moves had an almost immediate impact, with the August contract trading 4,286 contracts on the day the new policies went into effect.