(Kitco News) - After its longest technical outage in recent years, CME said that all futures trading activity, including gold and silver markets, has resumed just ahead of North America’s trading session.
Trading on the CME was halted overnight following a technical disruption.
“Due to a cooling issue at CyrusOne data centers, our markets are currently halted. Support is working to resolve the issue in the near term and will advise clients of Pre-Open details as soon as they are available,” the CME Group said in an official statement.
Despite the overnight disruption, over-the-counter spot markets continue to show solid demand for the precious metals.
CME is the biggest exchange operator by market value. Although the outage has impacted some activity in gold and silver, the precious metals also trade on over-the-counter markets which continued to rally overnight.
The gold market has seen solid demand this week, with spot prices testing resistance at $4,200 an ounce overnight. The precious metal last traded at $4,175 an ounce, up 2.7% this week and trading near a two-week high.
Meanwhile, silver is once again testing resistance just below $54 an ounce. Spot silver last traded at $53.87 an ounce, up nearly 8% so far this week.
Some analysts note that while CME’s outage has disrupted markets, the impact has been limited due to thin holiday activity. U.S. markets were closed Thursday for Thanksgiving, and on Friday they will only be open for half a day.
“It has been a long while since we’ve seen an outage of this duration. Thankfully, it arrived on a relatively quiet trading day, with many US participants enjoying a long Thanksgiving break,” said Ole Hansen, head of Commodity Strategy at Saxo Bank, in a comment on social media.
The timing of the outage has also raised the ire of precious metals conspiracy theorists, who have flooded social media with comments. The outage occurred just as silver prices were testing new highs above $54 an ounce.
Rising silver demand continues to put significant pressure on the physical market, which remains in a permanent supply deficit.
Hansen dismissed many of the conspiracy theories floating around.
“The #silver conspiracists are having a field day, claiming the @CMEGroup, worried about a thin order book, shut down its entire platform to prevent a breakout. Needless to say, that’s complete nonsense. And before the comment area lights up like a Christmas tree, do note I have been bullish on silver since 2022, and expect prices to climb further in the coming months,” he said.
The #silver conspiracists are having a field day, claiming the @CMEGroup, worried about a thin order book, shut down its entire platform to prevent a breakout. Needless to say, that’s complete nonsense.
And before the comment area lights up like a Christmas tree, do note I have…— Ole S Hansen (@Ole_S_Hansen) November 28, 2025
