Monthly Metals Review

Monthly Metals Review

Monthly Metals Review METALS TRADING HIGHLIGHTS November 216 Highlights: Average daily volume for November 216 COMEX metal (Gold, Silver and Copper) futures was 612,111 contracts, compared with 358,469 contracts during November 215, an increase of 7.76 percent. Average daily volume for November 216 COMEX metal (Gold, Silver and Copper) options was 69,461 contracts, compared with 34,493 contracts during November 215, an increase of 11.38 percent. Average daily volume for November 216 Gold futures was 338,59 contracts, compared with 21,699 contracts during November 215, an increase of 67.83 percent. Average daily volume for November 216 Gold options was 63,82 contracts, compared with 3,56 contracts during November 215, an increase of 19.88 percent. Average daily volume for November 216 Silver futures was 15,446 contracts, compared with 64,587 contracts during November 215, an increase of 63.26 percent. Average daily volume for November 216 Silver options was 6,144 contracts, compared with 4,212 contracts during November 215, an increase of 45.87 percent. Average daily volume for November 216 Copper futures was 168,156 contracts, compared with 92,182 contracts during November 215, an increase of 82.42 percent. Average daily volume for November 216 Platinum futures was 17,165 contracts, compared with 13,76 contracts during November 215, an increase of 31.27 percent. Average daily volume for November 216 Palladium futures was 9,454 contracts, compared with 8,119 contracts during November 215, an increase of 16.44 percent. 1

www.cmegroup.com/metals Scorecard - Average Daily Volume and Open Interest Statistics November 216 Average Daily Volume Open Interest U.S. and Metric Spot Price & Conversion Electronic /Pit Ticker Symbols Contracts $ Notional ($ Millions) Contracts $ Notional ($ Millions) US$ Spot Month Close Except Copper=Ave Month Close 3-Nov-'16 US$/Gram Except Copper=US$/MT Steel=US$/MT 3-Nov-'16 2-Day Historical Volatility Gold Futures GC 338,59 $39,687 41,1 $47,25 1,172.4 $37.69 16.5% CME ClearPort 9,963 Options OG 63,82 951,81 CME ClearPort 9,398 E-micro Gold Futures MGC 4,579 $54 2,551 $3 1,172.4 $37.69 16.5% Silver Futures SI 15,446 $8,66 159,246 $13,79 16.426 $.53 32.54% CME ClearPort 1,759 Options SO 6,144 11,21 CME ClearPort 292 Copper Futures HG 168,156 $1,368 234,786 $14,477 246.638 $5,437.44 27.96% CME ClearPort 666 Options HX 234 3,184 Platinum Futures PL 17,165 $781 68,782 $3,129 99.9 $29.25 24.7% CME ClearPort 282 Options PO 172 6,814 Palladium Futures PA 9,454 $729 26,654 $2,56 771.4 $24.8 27.27% CME ClearPort 42 Options PAO 218 1,939 HRC Steel Futures HR 125 $1.59 17,151 $218 635. $7.11 21.78% CME ClearPort 114 Aluminum MW U.S. Transaction Premium Platts Futures AUP 469 34,446 Iron Ore 62% Fe, CFR China (TSI) Futures TIO 1,27 2,9 Iron Ore 62% Fe, CFR China (TSI) Average Price Options ICT 263 27,462 Note: CME ClearPort volumes are already included in futures or options volumes. 2

ADV - Contracts YTD ADV - Contracts Contracts Monthly Metals Review Futures - Average Daily Volume Palladium Futures Platinum Futures Copper Futures Silver Futures Gold Futures 7, 6, 5, 4, 3, 2, 1, COMEX Metal Futures - Average Daily Volume and Year-To-Date Average Daily Volume Copper Futures Silver Futures Gold Futures Gold Futures YTD ADV Silver Futures YTD ADV Copper Futures YTD ADV 7, 25, 6, 2, 5, 4, 15, 3, 1, 2, 1, 5, 3

Contracts ADV - Contracts YTD ADV - Contracts www.cmegroup.com/metals NYMEX Metal Futures - Average Daily Volume and Year-To-Date Average Daily Volume Palladium Futures Platinum Futures YTD ADV Platinum Futures Palladium Futures YTD ADV 3, 18, 25, 16, 14, 2, 12, 15, 1, 8, 1, 6, 5, 4, 2, Options - Average Daily Volume Platinum Options Palladium Options Copper Options Silver Options Gold Options 9, 8, 7, 6, 5, 4, 3, 2, 1, 4

Contracts ADV - Contracts YTD ADV - Contracts Monthly Metals Review Gold Silver Options - Average Daily Volume and Year-To-Date Average Daily Volume 9, Silver Options Gold Options YTD ADV Gold Options Silver Options YTD ADV 5, 8, 45, 7, 4, 6, 35, 5, 4, 3, 25, 2, 3, 15, 2, 1, 1, 5, Futures Open Interest - Month-End Palladium Futures Platinum Futures Copper Futures Silver Futures Gold Futures 1,2, 1,, 8, 6, 4, 2, 5

Contracts www.cmegroup.com/metals Options Open Interest - Month-End Platinum Options Palladium Options Copper Options Silver Options Gold Options 2,5, 2,, 1,5, 1,, 5, Gold Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 4, 7, 35, 6, 3, 5, 25, 4, 2, 3, 15, 1, 2, 5, 1, 6

Monthly Metals Review Silver Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 16, 25, 14, 2, 12, 1, 15, 8, 6, 1, 4, 5, 2, Copper Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 18, 25, 16, 14, 2, 12, 1, 15, 8, 1, 6, 4, 5, 2, 7

www.cmegroup.com/metals Platinum Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV 25, Total ADV Open Interest OI 9, 8, 2, 7, 6, 15, 5, 1, 4, 3, 5, 2, 1, Palladium Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV 12, Total ADV Open Interest OI 5, 45, 1, 4, 8, 35, 3, 6, 25, 2, 4, 15, 2, 1, 5, 8

Contracts Contracts Monthly Metals Review Gold Options - Electronic Average Daily Volume Total ADV Electronic ADV % Electronic ADV 8, 9% 7, 6, 5, 4, 3, 2, 1, 8% 7% 6% 5% 4% 3% 2% 1% % Silver Options - Electronic Average Daily Volume Total ADV Electronic ADV % Electronic ADV 16, 14, 12, 1, 8, 6, 4, 2, 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % 9

www.cmegroup.com/metals Gold Futures - Spot Month - 2-Day Historical Volatility 6% Gold Futures 5% 4% 3% 2% 1% % Silver Futures - Spot Month - 2-Day Historical Volatility 1% Silver Futures 9% 8% 7% 6% 5% 4% 3% 2% 1% % 1

Monthly Metals Review Copper Futures - Spot Month - 2-Day Historical Volatility 12% Copper Futures 1% 8% 6% 4% 2% % Platinum Futures - Spot Month - 2-Day Historical Volatility Platinum Futures 14% 12% 1% 8% 6% 4% 2% % 11

www.cmegroup.com/metals Palladium Futures - Spot Month - 2-Day Historical Volatility Palladium Futures 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % Gold Futures - Spot Month, 2 Day Historical Volatility and Implied Volatility Settlement Price ($/oz) 14 Settlement Price Historical Volatility Implied Volatility Volatility 6% 135 5% 13 4% 125 3% 12 2% 115 1% 11 % 12

Contracts Contracts Monthly Metals Review Average Hourly Total Volume - All Hours - November 216 9, 8, 7, 6, Copper Futures Silver Options Silver Futures Gold Options Gold Futures 5, 4, 3, 2, 1, New York Time Average Hourly Total Volume - Extended Trading Hours - November 216 3, Copper Futures Silver Options Silver Futures Gold Options Gold Futures 25, 2, 15, 1, 5, New York Time 13

Contracts Contracts www.cmegroup.com/metals Average Hourly Total Volume - All Hours - November 216 4, 3,5 Palladium Futures Platinum Futures 3, 2,5 2, 1,5 1, 5 New York Time Average Hourly Total Volume - Extended Trading Hours - November 216 1,2 1, Palladium Futures Platinum Futures 8 6 4 2 New York Time 14

Open Interest - Contracts Open Interest - Contracts Monthly Metals Review 4, CFTC COT Report - Gold Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 35, 5% 3, 25, 4% 2, 3% 15, 2% 1, 5, 1% % Source: CFTC CFTC COT Report - Silver Futures Open Positions - Long 14, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 12, 5% 1, 8, 6, 4, 2, 4% 3% 2% 1% % Source: CFTC 15

Open Interest - Contracts www.cmegroup.com/metals CFTC COT Report - Copper Futures Open Positions - Long 16, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 14, 5% 12, 1, 4% 8, 3% 6, 2% 4, 2, 1% % Source: CFTC Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All references to options refer to options on futures. CME Group is a trademark of CME Group, Inc. The Globe Logo, CME, Chicago Mercantile Exchange, and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. All other trademarks are the properties of their respective owners. The information within this brochure has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications. Copyright 216 CME Group. All rights reserved. 16

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