CME Group Micro Gold and Silver Products Update – April 2021

  • 19 Apr 2021
  • By CME Group
  • Topics: Metals

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

  • Precious metals were subdued during March, with Gold registering its lowest range since October 2020.
  • Investor interest has unwound over the last several weeks, with managed money net positioning falling off to just +29k in the 9th March 2021 report.
  • Volumes in Micro Gold and Micro Silver were understandably lighter during March, but Q1’21 was still the third highest all-time ADV month for MGC and second highest for 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 April

  • April 15 – US Retail sales – 8:30 p.m. SGT / HKT
  • April 29 – US Fed Interest Rate decision and press conference – 2:00 a.m. SGT / HKT
  • April 29 – US GDP Numbers – 8:30 p.m. SGT / HKT

Useful resources

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