What are metals futures?

Metals futures are standardized contracts that allow you to trade or hedge the future price of commodities such as gold, silver, copper, platinum, and palladium. They are used by traders to respond to price movements driven by supply and demand, global economic conditions, and geopolitical events, without taking physical ownership of the underlying metal.

Do I have to take physical delivery when trading metals futures?

No. Most retail traders never take physical delivery of the underlying metal. Positions are typically closed before expiry, and futures are primarily used for price exposure, allowing you to trade on margin and go long or short.

What is the difference between standard and micro metals futures contracts?

Standard contracts are designed for traders with capital who are seeking greater exposure. Micro contracts are a 1/10th the size, with lower margin requirements and smaller position sizing. Both are available across key metals markets, so you can choose the contract size that fits your strategy.

Which metals markets can retail traders access via futures?

Retail traders can access both precious metals and base metals. Availability depends on exchange-listed contracts. See the individual metals pages for specifics on each market.

What factors influence metals futures prices?

Metals prices may be influenced by supply and demand, global economic conditions, and overall market sentiment. Metals futures also have a direct correlation to currency markets.

Gold and silver metal nuggets suspended against a blue background

Trade Metal Futures

The Metals Market, Up
Close

From gold's ongoing safe-haven legacy to copper's industrial demand and palladium's supply-driven volatility, explore highly liquid metals markets with StoneX.

Start trading metals

Futures trading involves significant risk of loss and is not suitable for all investors.

Explore metals futures markets

Precious metals futures

Trade safe-haven and industrial metals where pricing responds to monetary policy shifts, global growth data, and supply dynamics.

Gold

A safe-haven asset driven by interest rates, inflation, and U.S. dollar strength

Deep global liquidity
Responsive to Fed policy and CPI data
Available as standard and micro gold futures

Silver

A precious and industrial metal in one, with price swings that consistently outpaces precious metals futures markets

Higher volatility relative to gold
Driven by both macroeconomic and industrial demand
Available in standard and micro contract sizes

Base metals futures

Trade industrial metals where pricing moves with global manufacturing output, infrastructure investment, and supply concentration.

Copper

An economic bellwether that’s sensitive to housing data, infrastructure spending, and the EV boom, with over 170,000 lots traded on average daily in 2025

Deep liquidity with efficient entry and exit
Closely tied to global EV demand
Tracks PMI and manufacturing data in real time

Platinum

Worldwide demand across jewelry and automotive industries, with tight supply keeping platinum futures subject to sharp price moves

Rarity drives pricing volatility
Demand across automotive and jewelry sectors
Supply limited to a small number of producing regions

Close-up of polished metal balls used in industrial manufacturing

Palladium

Supply concentrated in South Africa and Russia, where geopolitical instability and shifts in emissions regulation can move prices fast

Critical component in automotive catalytic converters
Supply focused in two regions
Sensitive to emissions standards and regulatory change

Futures trading involves significant risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results.

Why trade metals futures with StoneX?

Trade with right-sized contracts

Start with smaller capital requirements using Mini and Micro Gold and Silver contracts, so you can build exposure gradually.

Use advanced platforms

Monitor markets, manage risk and execute trades across a range of metals futures contracts using advanced trading platforms.

Access actionable intel

Real-time data, quotes, and expert macroeconomic analysis in one place, so you can monitor the macroeconomic and market developments influencing metals prices.

Enjoy hybrid support

A fully self-directed experience with optional broker support whenever you need it.

Start trading metals futures

Are you trading in metals markets for the first time? Or refining an existing strategy? StoneX Futures arms you with tools, access, and flexibility to trade with confidence.

Open an account

The trading of derivatives such as futures, options, and over-the-counter (OTC) products or “swaps” may not be suitable for all investors. Derivatives trading involves substantial risk of loss, and you should fully understand the risks prior to trading. Past results are not necessarily indicative of future results.

Metals futures trading FAQs

StoneX: We open markets

Our market expertise, advanced platforms, global reach, culture of full transparency and commitment to our clients’ success all set us apart in the financial marketplace.

Reach

With access to 40+ derivatives exchanges, 180+ foreign exchange markets, nearly every global securities marketplace and numerous bi-lateral liquidity venues, StoneX’s digital network and deep relationships can take clients anywhere they want to go.

Transparency

As a publicly traded company meeting the highest standards of regulatory compliance in the markets we serve, our financials and record of accomplishment are matters of public record. StoneX’s commitment to “doing the right thing over the easy thing” sets us apart in the industry and helps us build respect, client trust and new partnerships.

Expertise

From our proprietary Market Intelligence platform, to “boots on the ground” expertise from award-winning traders and professionals, we connect our clients directly to actionable insights they can use to make more informed decisions and achieve their goals in the global markets.