The CME Group, a prominent derivatives marketplace, has announced plans to introduce a 1-Ounce contract on January 13, 2025. The move is subject to regulatory approval and is intended to address the growing retail interest in gold investing.
Jin Hennig, Managing Director and Global Head of Metals at CME Group, highlighted the surge in retail interest in gold as a key factor for diversifying investment portfolios. The new 1-Ounce Gold futures are expected to provide retailers with greater flexibility and access to the market’s liquidity and efficiency.
Interactive Brokers (NASDAQ:) expressed support for the new offering through its EVP of Marketing and Product Development Steve Sanders. He highlighted the benefits of 1-Ounce Gold futures for clients seeking transparent management of their precious metals exposure and portfolio diversification at a low cost.
Isaac Cahaha, CEO of Plus500US, also welcomed the addition, noting how easy it will be for global customers to capitalize on gold opportunities. Similarly, Mr Teyu Che Chern, CEO of Phillip Nova, praised the introduction of the smaller contract size, which will allow a wider range of investors to get into gold trading.
The announcement comes as CME Group’s (NASDAQ:) Micro Gold and Micro products see record participation levels this year. The Micro Gold futures have reached an average daily volume of 105,000 contracts, while the Micro Silver futures reached 19,000 contracts.
The upcoming 1-Ounce Gold futures will be financially settled based on the daily settlement price of the benchmark Gold futures contract. These are listed by and subject to the rules of COMEX. Interested parties can find more details on the CME Group website.
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