CME Group Micro Gold and Gold Products Update – August 2020

  • 4 Aug 2020
  • By CME Group
  • Topics: Metals

Micro Gold Futures (MGC) update

  • The COMEX Gold market traded to all-time highs during July 2020.
  • The active contract briefly traded through 2000 USD/oz on July 31.
  • The settlement on July 31 of 1985.9 was the all-time high settlement for the active contract.

*  APAC hours represent 8 a.m.-8 p.m. SGT/HKT

Source: CME Group

MGC price movement and daily range (expressed in terms of 1 lot notional)

*  Intraday price movement is expressed as the difference between the daily high price and the daily low price, multiplied by the contract notional size in troy ounce.

Source: CME Group

Options heatmap

From the period of June 30 to July 31, the following options showed relatively large builds in OI:

  • December ’20 2000 calls (+5,031 lots)
  • March ’21 2125 calls (+5,575 lots)
  • December ’20 1675 puts (+3,040 lots)
  • September ’20 1800 puts (+3,075 lots)

Source: QuikStrike Options heatmap tool

Key economic events in August

  • August 3 – US ISM Manufacturing PMI – 10 p.m. SGT/HKT
  • August 5 – US Balance of Trade – 8:30 p.m. SGT/HKT
  • August 6 – US Initial Jobless claims – 8:30 p.m. SGT/HKT
  • August 7 – US Non Farm Payrolls – 8:30 p.m. SGT/HKT
  • August 11 – US PPI – 8:30 p.m. SGT/HKT
  • August 12 – US Inflation numbers – 8:30 p.m. SGT/HKT
  • August 14 – US Retail Sales – 8:30 p.m. SGT/HKT
  • August 27 – US GDP Growth Rate – 8:30 p.m. SGT/HKT

Useful resources

The data and output from this tool does not constitute investment advice and is not a personal recommendation from CME Group.  Nothing contained herein constitutes the solicitation of the purchase or sale of any futures or options.  Any investment activities undertaken using this tool will be at the sole risk of the relevant investor.  CME Group expressly disclaims all liability for the use or interpretation (whether by visitor or by others) of information contained herein. Decisions based on this information are the sole responsibility of the relevant investor.  Any visitor to this page agrees to hold the CME Group and its affiliates and licensors harmless against any claims for damages arising from any decisions that the visitor makes based on such information.