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HKEX gold futures smash delivery record as US sanctions reshape trade
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Julie ZhangPublished: 4:00pm, 21 Aug 2026Updated: 7:28pm, 21 Aug 2026Hong Kong Exchanges and Clearing (HKEX) has reported record-breaking physical deliveries and a trading surge in its US dollar-denominated gold futures contract, underscoring the city’s ambition to become a global hub for the precious metal amid widening trade restrictions by the United States.
The bourse operator physically delivered 145kg (319.67lbs) of gold, the highest single-day tally since the product was first launched in 2018, according to a statement published on HKEX’s official WeChat account.
The figure for Wednesday more than doubled the previous record of 63kg (138.89lbs) set in December 2018.
The surge came after HKEX relaunched the contract on July 6 – the exchange’s fourth attempt since the 1980s to establish a viable gold futures market. To boost liquidity, it introduced a marketwide waiver of its US$1-per-contract trading fee, which is scheduled to run until June 30, 2027.
“Gold futures can help to hedge price risk for investors and leveraged exposure without holding physical metal,” said Tom Chan Pak-lam, honorary president of the Institute of Securities Dealers.
Physical gold bar delivery is handled in Hong Kong through HKEX’s approved depository, currently Brink’s Hong Kong, he noted. On final settlement, ownership of the gold moves from the seller’s vault account to the buyer, settling the contract in US dollars.
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