What are Gold (GC) Futures?

By NinjaTrader


According to the CME Institute, “Gold is arguably the most watched and diverse commodity in the world.” Gold Futures (GC) trade on the COMEX exchange, which is part of the CME (Chicago Mercantile Exchange) Group. Each standard Gold Futures (GC) contract represents 100 troy ounces of gold, which is the weight of one gold brick.

Why Trade Gold Futures?

Gold is often used by investors as a way of diversifying risk and is considered a safe haven in times of turbulent markets. However, the gold market is subject to volatility and speculation itself. According to recent reports, the world’s physical gold trade is roughly $190 billion and the global demand trends above 4,000 tons annually.

Trading futures contracts, versus trading commodities themselves, offers investors more financial leverage and flexibility. Since Gold Futures trade within a centralized exchange, this provides investors the advantage of trading a highly valued market product with a fraction of the total value.

Gold is traded nearly 24 hours a day, making it a popular and desirable futures instrument to trade internationally.

Gold Futures Contract Specs:

  • Exchange: COMEX
  • Class: Futures
  • Trading Symbol: GC
  • Contract Size: 100 troy ounces
  • Pricing Unit: U.S. Dollars
  • Tick Size: 0.1
  • Tick Value: $10
  • Point Value: 1 = $100
  • Average Daily Volume: 342,222 (Year to Date August 2018)
  • Intraday Margin: $1000
  • Contract Months: February, April, June, August, October & December
  • Trading Hours: Sunday to Friday 6:00 pm – 5:00 pm ET
  • Position Limit: 10 contracts

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