[SMM Precious Metals Flash] Intercontinental Exchange has begun offer - Shanghai Metals Market

AI desk brief

ICE has started offering daily futures in London for gold, silver, platinum and palladium, with physically settled loco-London contracts sized at 50 oz for platinum and 100 oz for palladium and deliverable through recognised London vault accounts. The new venue could give producers, refiners and traders a cleared hedge for London exposure, but its market impact will hinge on actual participation; no trading-volume or open-interest data were provided.

The launch matters mainly as a potential liquidity and basis-risk development rather than an immediate price catalyst. Earlier attempts to build a London gold-futures market failed, so adoption will be the key test.