Gold Futures Contract Specifications, Margins and Technicals

Gold Futures Contract Specifications

 

Gold Futures Contract

What is the Gold Futures Contract?

The Gold futures contract tracks the price of Gold worldwide. You can trade it only on the Chicago Mercantile Exchange (CME) within its COMEX division. The CME uses an electronic system called GLOBEX where you trade the futures on when you execute the Crude Oil futures contract.

What Is the Symbol for the Gold Futures?

The symbol for the Gold Futures is GC. However, once in a while, you may find a quote vendor that may use a different symbol.

What Months does the Gold Futures Contract Trade?

The GC contract trades in these 8 months:

January Symbol F

February Symbol G

March Symbol H

April Symbol J

June Symbol M

Aug Symbol Q

October Symbol V

December Symbol Z

What is the Contract Size of the Gold Futures? 

Gold Futures contract is 100 troy ounces

What is the Tick Size of the Gold Futures Contract?

Minimum Tick 0.10 Dollar Value of One Tick $10.00

What are the Trading Hours of the Gold futures Contact? 

Sunday – Friday 5:00 p.m. – 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT

Which Gold Futures Contract Should I Trade?

You Should trade the contract that is most liquid. This means that you should trade the month closest to the current period.   Two weeks prior expiration of the contract you should start looking at the next month and see where is the liquidity. The liquidity is measured in terms of Open Interest and daily volume traded.

How does Margin Work?

The margin is the amount of capital that is used out of your account when trading a futures contract.  However, the margin money is given back to you upon closing of the account.  The profit or loss generated as a result of your trade will be debited or credited to your futures trading account.   Overnight trading margins are determined by the exchange and are not negotiable. The margin for GC Anything held past 16.00 CST/17.00 EST is considered is subject to overnight margin.

What Are Day Trading Margins?

Day trading margins are determined by the FCM and/or the Introducing Broker.  They can determine the hours and the margins you hold for their specified day trading hours. Keep in mind that day trading hours and margins do apply to overnight margins (please read above).

Check out these Day Trading Margins by Clearing

How does the GL Contract Settle?

There is delivery on the GC contract. You need to exit this position prior to its delivery date.

Which Platforms Trade Gold Futures (GC) Futures?

Please check these Futures Trading Platforms. They all trade the Gold Futures Contract.

Which Brokers Trade CL Futures?

Please call 1-800-771-6748 to start your gold futures trading. Drop us an email at general@optimusfutures.com

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