CME Group Micro Gold and Silver Products Update – February 2021

  • 5 Feb 2021
  • By CME Group
  • Topics: Metals

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

  • The gold market gave back some of its year end 2020 gains in January 2021, due to dollar strength and rallying US yields.
  • COMEX GC returned -2.36% in January. COMEX Silver fared better, rallying 1.9% in January with two days of sharp gains to finish the month.
  • COMEX Micro Precious Metals contracts had a small rebound in volumes vs. the Q4 2020 average.
  • We continue to see up to 40% of Micro Precious Metals futures trade during APAC hours.

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 February

  • February 5 – US non-farm payrolls – 9:30 p.m. SGT / HKT
  • February 10 – US inflation numbers – 9:30 p.m. SGT / HKT
  • February 17 – US retail sales – 9:30 p.m. SGT / HKT
  • February 18 – FOMC minutes – 3:00 a.m. SGT / HKT

Useful resources

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