CCG Spot Gold (symbol XAUUSD) and CCG Spot Silver (symbol XAGUSD) are available to most customers who are not residents of the U.S. or certain other countries.1
CCG Spot Gold and CCG Spot Silver are simple, efficient, flexible and low-cost ways to gain long and short exposure to the gold and silver markets.
A Troy Ounce is the traditional unit of weight used for precious metals. The term derives from the French town of Troyes, where this unit was first used in the Middle Ages. One troy ounce is equal to 1.0971428 ounces avoirdupois. In the bullion market, all references to ounces mean troy ounces.
The Loco London Spot Price is the basis for virtually all transactions in gold and silver in London. It is a quotation made by dealers based on US dollars per fine ounce for gold and silver. CCG’s liquidity providers provide quotes based on this price, including a spread. Settlement and delivery for gold and silver are two good business days in London after the day of the transaction (T+2).
CCG Spot Gold and CCG Spot Silver are considered "unallocated", which represents the most popular and straightforward way of trading gold and silver. Credit balances are backed by the general stock of the bullion dealer who has the gold or silver, and debit balances represent the indebtedness of the client to the bullion dealer. In other words, a position in gold or silver is not an entitlement to specific bars of gold or silver, although the latter can be arranged on request by contacting CCG Customer Service. There is an Unallocated Carrying Fee of 10 basis points charged for storage. CCG Spot Gold and CCG Spot Silver are traded through your margin account, and you can therefore enter long as well as short leveraged positions.
1. CCG Spot Gold and CCG Spot Silver trading is available to customers who are not legal residents of the U.S., Canada, Australia, Hong Kong or Japan.