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


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