CME Group Micro Gold and Silver Products Update – January 2021

  • 11 Jan 2021
  • By CME Group
  • Topics: Metals

Micro Gold (MGC) and Micro Silver futures (SIL) update

  • A strong rebound in precious metals markets during December rounded off a fantastic year for Gold and Silver.
  • COMEX GC returned 6.41% in December, erasing November’s losses.  COMEX Silver rebounded over 17% during December.
  • A resurgence in COVID-19 cases globally coupled with further weakening USD were key themes for markets during December.
  • COMEX Micro precious metals contracts rounded off a record year. 
    • 2020 MGC (micro Gold) ADV was at 86,101, an increase of 280% vs 2019.
    • 2020 SIL (micro Silver) ADV was at 9,684, an increase of 589% vs 2019.

Source: CME Group

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

Source: CME Group

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

Source: CME Group

*  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

Key economic events in January

  • January 8 – US Non-farm payrolls – 9:30 p.m. SGT / HKT
  • January 13 – US Inflation Numbers – 9:30 p.m. SGT / HKT
  • January 15 – US Retail sales – 9:30 p.m. SGT / HKT

Useful resources

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