[thefj]

Futures have to be settled physically, if carried to expiration, as far as I know

[aww_dang]

https://www.moneymetals.com/news/2020/03/27/gold-traders-are...

There's a bit of controversy around this.

[seafoam]

Retail brokers do not allow the position to be carried all the way to the first delivery date.

For example : https://ibkr.info/node/992

[kthejoker2]

Right ... so if you can't undertake delivery, they sell it out on the spot market.

If everyone in the market can't undertake delivery, the buyers on the other side who can will have their pick of orders, and prices will plummet.

You'll be selling heaters in Hell.