Gold CME Volume & Open Interest

About this data

This page sums CME Group's official cleared volume and open interest for COMEX gold futures across every listed contract month, one point per trading day, with a per-month breakdown for any date in the window. Volume measures how much business changed hands in a session; open interest measures how many positions were still open when it ended. Read together they separate activity from commitment: rising open interest means new money is entering on one side or the other, falling open interest means positions are being closed, and a surge in volume that leaves open interest unchanged is almost always the roll, with longs and shorts moving from the expiring month to the next active one.

Source: CME Group official daily cleared volume and open interest by contract month for GC (gold) and SI (silver), over CME's Smart Stream feed. One point per trading day, published after the close; WatchGold stores each figure as released and totals the months.

Frequently asked questions

What is the difference between gold futures volume and open interest?

Volume is the number of gold futures contracts traded during one session, counting each contract once however many times the same trader turns it over. Open interest is the number of contracts outstanding at the end of the day: positions opened and not yet offset, delivered or expired. A trade between a new buyer and a new seller adds to both; one side opening while the other closes leaves open interest unchanged; both sides closing reduces it.

Why does COMEX gold volume spike every couple of months?

Because of the roll. Most open interest sits in the active delivery months (February, April, June, August, October and December for gold; March, May, July, September and December for silver). In the days before first notice day, holders who do not intend to make or take delivery close the expiring month and reopen the next one: heavy volume, little net change in total open interest. The monthly breakdown table shows the hand-off between contracts.

What do changes in gold open interest say about price direction?

Open interest only tells you whether positions are being added or removed; the price move tells you who is winning. Price up with open interest up is new buying, a trend attracting fresh participants. Price up with open interest down is short covering, which tends to exhaust quickly. Price down with open interest up means new shorts are pressing; price down with open interest down is long liquidation. Cross-check the COT report to see which trader group is driving it.