Micro Gold, Silver and Copper Products Update – February 2025
15 Feb 2025
Highlights
- On January 20, 2025, President Donald Trump took office, bringing ongoing concerns about U.S. tariffs and a pause in the rate-cutting cycle. These factors increased market uncertainty, which is reflected in the gold price. Gold gained 7.4% month-over-month (MoM), settling at $2,835/oz. in January 2025..
- News of potential tariffs on Mexico and Canada towards the end of January contributed to a significant jump in active silver prices. Silver closed the month at $32.265/oz., up 10.3% MoM, marking the largest monthly gain since May 2024.
- In addition to tariff concerns, copper prices rose 6.3% MoM to $4.2790/lb. This increase was driven by a weaker U.S. dollar and strong China industrial production rates in December 2024, which lifted market sentiment regarding Chinese demand.
- Amid increasing market volatility, Micro Gold (MGC) futures continues to be a preferred risk management tool for many market participants. The 2025 year-to-date (YTD) average daily volume (ADV) reached 121,055 contracts, a 15% increase compared to FY2024.
- We are also pleased to announce the launch of 1-Ounce Gold (1OZ) futures . This cash-settled Gold futures contract lowers the barrier for market participants to trade in one of the world’s most liquid gold markets.
MGC, SIL and MHG price movement and daily range (expressed in terms of one lot notional)
