Gold Bars

The Commodity Exchange, Inc. (COMEX) division of the New York Mercantile Exchange (NYMEX) has warehouses from which investors can take delivery on contracts for gold. The gold held in the vaults is divided into two categories: eligible and registered gold.

The eligible gold specified by COMEX is all gold that the organization feels is acceptable for delivery against the applicable futures contract for which a warrant has not been issued.

Registered gold is eligible gold that has been warranted, or certified. A warrant is an option to buy gold at a predetermined price. The warrant serves as a certificate of ownership and specifies the date and amount of metal that is being bought or sold.

“Eligible gold” is gold that has met the specifications required by COMEX and is thus eligible to settle gold futures contracts traded on the exchange if converted to registered.

Some of the gold in COMEX warehouses is eligible for conversion to registered status. But not all eligible gold may be converted because an owner may choose not to register it. In essence, all bullion available for delivery can be delivered on COMEX; there is no difference between registered and deliverable gold in this regard.

Interested in Buying Gold?

Navigating the gold industry can be daunting for most. Regardless of the venture you’re interested in, count on Bullion Exchanges to assist you.

Contact us today and find out more about how you can protect your assets. We are located at 30 West 47th Street in New York City’s Diamond District. Our hours are Monday through Friday from 9 A.M. to 5 P.M.

Reach us by phone or online during our business hours if you have any questions about our products and services. Our friendly team can address your Precious Metals investing questions and help you with any bullion purchasing or selling requests.

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