Settlement Price

The settlement price will be the bullion contract's closing price on the trading day. The closing price will be based on the volume weighted average price of the previous 30 minutes, with a minimum of 10 deals. If there have been less than ten trades in the previous 30 minutes, the volume weighted average price of the last ten trades will be used. In the absence of the last ten deals, the volume weighted average price of the previous five trades is used. In the absence of the previous five deals, the latest traded price of the day is used. In the absence of the day's last traded price, the previous day's closing price is used.