COMEX
COMEX (Commodity Exchange) is the world's main marketplace for trading precious metals like gold and silver. It's part of the CME Group, which is one of the largest trading organizations globally. When people in the trading industry mention COMEX, they're usually talking about buying and selling contracts for metals that will be delivered in the future. Think of it like a very organized global marketplace where traders and companies can buy or sell large amounts of metals at prices that are clear to everyone. When you see COMEX on a resume, it usually means the person has experience with precious metals trading or understanding how metal prices are set in the global market.
Examples in Resumes
Managed daily COMEX gold futures trading operations for institutional clients
Analyzed COMEX market trends to provide pricing recommendations
Led team handling COMEX precious metals settlement and delivery processes
Typical job title: "COMEX Traders"
Also try searching for:
Where to Find COMEX Traders
Professional Networks
Industry Resources
Job Boards
Example Interview Questions
Senior Level Questions
Q: How would you handle a situation where there's a significant discrepancy between physical gold prices and COMEX futures prices?
Expected Answer: A senior trader should explain how they would analyze the price difference (arbitrage opportunity), consider delivery costs, storage fees, and market conditions. They should mention risk management strategies and how to potentially profit from or hedge against such situations.
Q: What factors do you consider when developing a long-term precious metals trading strategy?
Expected Answer: Should discuss global economic indicators, central bank policies, currency movements, supply/demand fundamentals, and seasonal patterns in metal trading. Should also mention risk management and position sizing.
Mid Level Questions
Q: Explain the relationship between spot prices and futures prices in precious metals.
Expected Answer: Should be able to explain how immediate delivery (spot) prices relate to future delivery prices, including concepts like storage costs, interest rates, and market expectations.
Q: What are the main differences between trading gold and silver futures on COMEX?
Expected Answer: Should discuss contract sizes, margin requirements, typical price movements, delivery specifications, and different market influences for each metal.
Junior Level Questions
Q: What is a futures contract and how does it work on COMEX?
Expected Answer: Should explain that a futures contract is an agreement to buy/sell a specific amount of metal at a set price on a future date, and describe basic contract specifications and trading hours.
Q: How do you read and interpret basic COMEX metals pricing?
Expected Answer: Should demonstrate understanding of bid/ask prices, contract months, and basic price quotes for precious metals futures contracts.
Experience Level Indicators
Junior (0-2 years)
- Basic understanding of futures trading
- Reading market prices and charts
- Knowledge of trading platforms
- Understanding of margin requirements
Mid (2-5 years)
- Trading strategy development
- Risk management techniques
- Market analysis skills
- Understanding of global metal markets
Senior (5+ years)
- Advanced trading strategies
- Portfolio management
- Team leadership
- Deep market knowledge and connections
Red Flags to Watch For
- No understanding of basic futures trading concepts
- Lack of knowledge about precious metals markets
- No experience with trading platforms
- Poor understanding of risk management
- No awareness of market regulations and compliance
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