NEW YORK (Scrap Register): Exchange operator CME Group reports that metals volume in May rose 13% year-on-year to 540,000 contracts, compared to 479,000 in May 2016.
Sequentially, however, volume last month was down 1.5% from an average of 548,000 lots in April. Average daily volume in gold futures and options increased 3% year-on-year to 334,000 contracts, while this jumped 52% in silver to 94,000 contracts.
On a rolling three-month average basis, CME Group reports that average daily metals volume was 525,000 contracts for the period ending with May.
This was up from 519,000 for the three-month period ending with April, 512,000 for the period ending with March and 466,000 for the period ending with February.
