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​What is the contract size of Gold Futures?

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​​​Understanding contract size is key to managing risk and capital requirements in Gold Futures Trading. Let’s break it down:

Contract Sizes of Gold Futures (COMEX)

The CME Group (COMEX) offers several gold futures contracts with different sizes to suit traders from institutional to retail:
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1. Standard Gold Futures (GC)

• Contract Size: 100 troy ounces of gold
• Tick Size: $0.10/oz → $10 per tick
• Initial Margin (approx.): ~$7,000–10,000 (varies)

Best for institutions and large-scale traders due to the high notional value.

2. E-mini Gold Futures (QO)

• Contract Size: 50 troy ounces
• Tick Size: $0.25/oz → $12.50 per tick
• Less liquid than standard GC

Smaller than GC but still more suited for semi-professional traders.

3. Micro Gold Futures (MGC)

• Contract Size: 10 troy ounces
• Tick Size: $0.10/oz → $1 per tick
• Initial Margin: ~$700–1,000 (approx.)

Ideal for retail traders, new futures traders, or those testing strategies.

Example: Calculating Notional Value

Let’s say Gold = $2,000/oz

Standard (GC) - 100 oz - $200,000
E-mini (QO) - 50 oz - $100,000
Micro (MGC) - 10 oz - $20,000

Why Contract Size Matters
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• Impacts margin requirements
• Affects your risk exposure per price move
• Determines suitability based on account size and strategy

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