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Futuresintermediate
CONTRACT SIZETICK SIZE$10/TICK

GC (Gold Futures)

COMEX gold futures. 100 troy ounces per contract, $0.10/oz tick ($10/tick). Physically deliverable at approved COMEX vaults.

Also called GC · gold futures · COMEX gold

Formula
P&L = (Exit − Entry) × $100  [in $/oz terms]

GC is the benchmark gold futures contract on COMEX (CME Group). It represents 100 troy ounces of gold meeting COMEX delivery specifications.

  • Contract size: 100 troy ounces
  • Tick size: $0.10/oz → $10/tick
  • Point value: $100/oz move = $10,000/contract
  • Settlement: Physical delivery at approved COMEX vaults
  • Micro equivalent: MGC (10 oz, $1/tick)

GC serves as the global benchmark for gold pricing. It is sensitive to real interest rates, USD strength, inflation expectations, and safe-haven flows. Options on GC are also actively traded.

On the desk

GC at $2,400/oz. Notional = 100 × $2,400 = $240,000/contract. A $10/oz move = $1,000. A typical daily range of $20 = $2,000/contract. MGC at the same price: same $10 move = $100.

Related terms