Silver has been a hot topic this month, pulling the spotlight again as investors chase its allure of industrial muscle and safe haven value.
Building on the strong reception for its 24/7 gold offering, CME Group Inc (NASDAQ: CME) (FRA: MX4A) plans to extend round-the-clock trading to its 100-ounce silver futures from Sept. 11, pending regulatory review. The exchange reports that weekend sessions in one-ounce gold futures have already generated more than 53,000 contracts, or roughly US$219 million in face value, since their Jul. 24 launch.
The smaller silver contract, introduced in February, has averaged 17,800 contracts daily in the first half of the year. CME’s broader silver futures recorded a record US$50 billion average daily notional volume in that period while its overall metals complex averaged 1.3 million contracts a day, up 55 per cent year-on-year.
“Our retail clients have shown a strong appetite for right-sized gold futures available whenever they need them,” said Managing Director Jin Hennig, “so we are now extending that same 24/7 access to help participants manage risk and pursue opportunities in silver.”
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Silver futures explained
Silver futures are simple contracts. You agree now to buy or sell a fixed amount of silver on a set future date at a price fixed today. You only put down a small deposit (called margin), not the full cost. This gives you control of a much larger amount of silver than your cash would normally buy.
You can close the trade any time before the end date and never have to take the actual metal. CME’s smaller 100-ounce silver futures settles in cash based on the price of the bigger standard contract. This makes it easier and cheaper for everyday traders to use.
Compared with silver ETFs like the iShares Silver Trust (NYSEARCA: SLV), futures let you control more silver with less money and avoid ongoing management fees that slowly reduce the value of an ETF. Exchange-traded funds are simpler if you just want to own a share of real silver bars, but they do not give the same leverage or trading volume that futures potentially offer.
CME Group, formed from the 2007 merger of the Chicago Mercantile Exchange and Chicago Board of Trade and expanded by the 2008 acquisition of NYMEX and COMEX, also lists contracts across energy, agriculture, interest rates, equity indexes, foreign exchange and cryptocurrencies.
Development coincides with silver rally
The news comes as silver stages a strong recovery. After rising past US$70 in late 2025 and peaking above US$120 in January, the metal fell sharply through spring and summer before bouncing back. Prices recently neared US$66 an ounce, up more than 15 per cent in the past month.
A speculative boost may have come from a rare U.S. Treasury move in late July and early August, when it coordinated with Japan to support the yen — the first joint action of its kind in nearly 30 years. Aimed partly at discouraging large Japanese sales of U.S. Treasuries, the intervention helped limit rises in long-term yields and soften the dollar, factors widely seen as making silver more attractive. Its exact role in the recent rally remains interpretive though.
Other supports include ongoing shortages of silver (expected to reach 46 million ounces this year), strong buying from China, and demand from solar panels, electronics and AI gear. Shifting views on Federal Reserve interest rates also helped.
Looking ahead, most analysts expect further gains in 2026. A recent London Bullion Market Association survey points to an average price of about US$79.57 an ounce. Moreover, JPMorgan Chase & Co (NYSE: JPM) sees roughly US$81 coins over the news two months and US$85 by Q4. Other forecasts sit in a relatively similar range.
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