Futures Contract Specs (GC/MGC)
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Definition
The standardized terms of gold futures — contract size, tick value, and notional — for the full-size COMEX contract (GC, 100 troy oz) and the Micro Gold contract (MGC, 10 troy oz).
How to read it
GC controls 100 troy ounces of gold, so at a price of, say, 4000 the notional is 400,000 dollars and each 1.00 move is worth 100 dollars; its minimum tick is 0.10 (10 dollars). MGC is one-tenth the size — 10 troy ounces, ~40,000 dollars notional at 4000, and 10 dollars per 1.00 move. The point of knowing the specs is precise position sizing: the notional and tick value convert a chart stop into an exact dollar risk, and the micro contract lets you size to a target risk that the full-size contract would overshoot.
How practitioners use it
Used as context among multiple indicators — never as a standalone signal to act.
Less common professional uses
Micro-futures for precise sizing: MGC lets you hold per-trade dollar-risk constant across volatility regimes — add or drop micro contracts to keep risk near a fixed target instead of being forced into the coarse 100-oz step of GC. Blend GC and MGC to fine-tune exposure (e.g. 1 GC + 3 MGC = 130 oz) so the position matches the risk budget and Fibonacci/Elliott stop distance exactly. Account for roll and the futures term structure (contango/backwardation) when holding across expiries — the roll cost/yield is part of the true carry, not just the spot move.
Sources & provenance
COMEX/CME gold futures contract specifications (GC, MGC); Educational framework; not investment advice
This page is educational content published by Pachira Aquatica Global LLC. It is not investment advice and not a recommendation.