CME Group reports record metals volume for March, first quarter
(Kitco News) - Exchange operator CME Group Thursday reported monthly and quarterly record highs for average daily trading volume in the metals.
For March, average daily metals volume rose by 55% year-on-year to 920,000 contracts. Gold futures posted a record average volume of 471,000 contracts daily. Price volatility was high, with gold at times drawing a safe-haven bid, but at other times selling off as traders needed to generate cash to offset losses in other markets amid worries about the COVID-19 pandemic, numerous analysts reported.
For the entire first quarter, average daily metals volume was up 58% year-on-year to an all-time high of 889,000 contracts.
Both quarterly and monthly volume records were set in several other sectors as well, including interest rates, equity indexes, energy, agriculture and foreign exchange, the exchange operator said.
For contracts in all markets combined, average daily volume in March was a record 32 million contracts, CME Group said. First-quarter total volume averaged a record 27 million contracts.