Gold prices have reached record levels in recent months. That means gold dealers must pay more for the commodity now than they did only a year ago. That affects current prices.Not surprisingly, manufacturers want some control over the prices they pay for commodities. Futures contracts are agreements between a buyer and a seller to exchange something at a set price at some time in the future. These contracts let buyers lock in a price for basic materials.But some traders in futures markets only want to make a profit. They buy or sell contracts depending on the direction they believe prices will go. These speculators get blamed when prices rise, or fall, too quickly.
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