Gold is more than just an ordinary raw material. For thousands of years, it has exerted a fascination on people and is regarded as a symbol of wealth and power. Even without the gold standard and after the end of the Bretton Woods system, gold continues to play an important role on the international financial markets and is held as a "quasi-currency" by central banks, investors and private investors.
The gold Futures are very liquidly tradable and are used by both commercial and speculative market participants.
Contract specifications
| Designation | Gold (Comex Gold) |
| Abbreviation | GC |
| Contract size | 100 troy ounces |
| Price quote | USD per fine ounce |
| Tick size | 0.10 USD |
| Tick value | 10 USD |
| Daily price limit | none |
| Stock Exchange | COMEX |
| Trading hours (DE) | 0 o'clock - 23 o'clock |
| Contract months | In each case current month + 2 following months, as well as Feb (G), Apr (J), Aug(Q), Oct (V) coming 23 months, as well as. Jun (M), Dec (Z), coming 60 months |
Gold futures are traded in New York on the Comex (part of the CME Group) almost around the clock. One contract moves 100 troy ounces. I.e. with a gold price of 1700 USD, this corresponds to an equivalent of 170 000 USD and with a movement of the gold price by one dollar, a profit or loss of 100 USD arises.
In addition to the large gold future (GC) with a contract size of 100 troy ounces, the following smaller contracts are available:
- Mini Gold Futures (50 troy ounces, ticker: QO)
- Micro Gold Futures (10 troy ounces, ticker: MGC)
