For thousands of years, our ancestors have recognized and taken advantaged of the beauty and versatility of silver. Countless civilizations, from ancient Greece to the United States, have relied on silver bullion to stabilize their currencies. Second in popularity, after gold, in the futures markets, silver is looked upon as a good investment because of its versatility and many industry uses.
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Written by Kurt Pfafflin, The Gold & Silver Speculator is a weekly precious metals market commentary newsletter specifically created to give traders and investors the most relevant investment information and trading tools they need to participate in the gold and silver markets.
Silver Futures Contract Specifications
|Venue||CME Globex, CME ClearPort, Open Outcry (New York)|
(All Times are New York Time/ET)
|CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. with a 45-minute break each day beginning at 5:15 p.m.
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. with a 45-minute break each day beginning at 5:15 p.m.
Open Outcry: Monday – Friday 8:25 a.m. - 1:25 p.m.
|Contract Size||5,000 troy ounces|
|Price Quotation||U.S. Cents per troy ounce Please note: Prices are disseminated in U.S. Dollars and Cents|
|Minimum Fluctuation||Outright transactions including EFP: $0.005 per troy ounce.
Straddle or spread transactions and settlement prices: $0.001 per troy ounce.
|Termination of Trading||Trading terminates on the third last business day of the delivery month.|
|Listed Contracts||Trading is conducted for delivery during the current calendar month; the next two calendar months; any January, March, May, and September falling within a 23-month period; and any July and December falling within a 60-month period beginning with the current month.|
|Delivery Period||Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.|
|Trading at Settlement (TAS)||Trading at Settlement is allowed in the active contract month. The active contract months will be March, May, July, September and December. On any given date, TAS transactions will be allowed only in a single contract month. TAS transactions may be executed at the current day’s settlement price or at any valid price increment ten ticks higher or lower than the settlement price.|
|Grade and Quality Specifications||Silver delivered under this contract shall assay to a minimum of 999 fineness.|
|Exchange Rules||These contracts are listed with, and subject to, the rules and regulations of COMEX.|
Source: CME Group
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Metal Futures Market News
- Copper futures climb with strong Chinese import, export data: [May 08 06:07 AM] Active trade data from the globe's top consumer helped push copper futures to their top price in about 21 days on Wednesday, spurring speculation about a resumption of strong demand for the base metal, according to Reuters. Read more
- Gold futures edge down as euro zone leaders aim to control fiscal issues: [May 07 06:21 AM] Gold futures on Tuesday were slumping amid indications that leaders in the debt-hobbled euro zone are set to implement efforts to control the fiscal crisis, according to Bloomberg. Read more
- Gold demonstrates volatility yet headed toward weekly gains: [Apr 26 07:09 AM] Increased demand prompted by weak U.S. gross domestic product data from the first quarter of the year prompted gold futures to surge on Friday as the yellowish metal barreled toward achieving its biggest weekly gain in about two years, according to Bloomberg. Read more
- Copper futures reverse three straight days of losses: [Apr 24 07:22 AM] Copper futures were increasing in value on Wednesday, reversing three consecutive trading sessions of losses amid speculation that worldwide central banks might be poised to intervene to spur economies, Bloomberg reports. Read more
- Copper futures dragged down by poor Chinese data: [Apr 23 07:26 AM] Underwhelming economic data released by China on Tuesday prompted copper futures to slump to their lowest price in 18 months, according to Reuters. Read more
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