CME Group: Metals Volume Soars To Monthly Record In January
Exchange operator CME Group reports that metals-tradingvolume averaged a record 763,000 contracts per day in January, up 45%from 525,000 in the same month a year ago. Sequentially, last month’s volumewas up 44% from 531,000 in December. January gold futures and options averagedaily volume was 45% higher year-on-year to 491,000 contracts, while that forsilver rose 48% to 112,000 contracts. Copper futures and options average volumeincreased 56% to 133,000 contracts. The rolling three-month average for theperiod ending in January was average metals trading volume of 684,000contracts. This was up from 616,000 for the comparable period ending inDecember, 657,000 for the period ending in November and 615,000 for the periodending with October.
By Allen Sykoraof Kitco News; asykora@kitco.com
Commerzbank:China’s Gold Demand Rises ‘Significantly’ In 2017
Friday February 2, 2018 08:32
Chinesegold demand was “significantly” higher again last year, says Commerzbank.Analysts cite data from the China Gold Association showing that demand grew by9.4% to 1,089 tonnes in 2017. Demand for jewelery and bars was up 10.4% and7.3%, respectively. “The figures reported by the CGA are well above theestimates of the World Gold Council, which had projected gold demand of 850-950tonnes in 2017,” Commerzbank says. Meanwhile, Chinese gold production declinedby 6% to 426 tonnes last year. Commerzbank notes that the CGA attributes thedecline to mine closures and the withdrawal of mining rights.
By Allen SykoraFor Kitco News
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