CME Group Micro Gold and Silver Products Update – March 2021

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

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

  • The Gold market continued to come under pressure in February as rising US yields and a strengthening dollar made the argument for holding gold less favorable
  • The Silver market experienced a few days of extreme volatility in early February which saw volumes on COMEX Silver futures and options register several top-5 all-time records
  • COMEX Micro precious metals contracts have continued to perform well and Q1’21 is thus far the second highest ADV quarter for both MGC and SIL

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 March

  • March 5 – US non-farm payrolls – 9:30 p.m. SGT / HKT
  • March 10 – US inflation numbers – 9:30 p.m. SGT / HKT
  • March 16 – US retail sales – 8:30 p.m. SGT / HKT
  • March 18 – FOMC Decision – 2:00 a.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.