CME Group: July Metals-Trading Volume Soars 32% From Year Ago

2 August 2016, 18:12
George Georgoudakis
CME Group reports that metals-trading volume jumped 32% year-on-year in July to a daily average of 503,000 contracts, compared to 381,000 in July of 2015. This comes after June metals volume rose by 45% year-on-year to 483,000 contracts. The July volume for futures was up 38% to a record daily average of 465,000, with gold futures volume climbing 41% to 296,000 daily and silver futures 62% to 74,000 per day. At one point, open interest – the number of open positions at the end of the business day – in gold futures hit a record high for three consecutive days and topped 655,000 contracts, the exchange operator reports. Copper futures and options average daily volume climbed 18% to 76,000 contracts. Meanwhile, the three-month rolling average for metals volume rose to 488,000 contracts from 468,000 for the three-month period ending in June, 462,000 for the period ending in May and 464,000 for the period ending in April.
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