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Gold Futures Contract Specs

Product Symbol GC
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday – Friday 8:20 a.m. - 1:30 p.m. (7:20 a.m. - 12:30 p.m. CT)
Contract Size 100 troy ounces
Price Quotation U.S. Dollars and Cents per troy ounce
Minimum Fluctuation $0.10 per troy ounce
Termination of Trading Trading terminates on the third last business day of the delivery month.
Listed Contracts Trading is conducted for delivery during the current calendar month; the next two calendar months; any February, April, August, and October falling within a 23-month period; and any June and December falling within a 72-month period beginning with the current month.
Settlement Type Physical
Settlement Procedure Daily Gold Settlement Procedure (PDF)
Final Gold Settlement Procedure (PDF)
Delivery Period Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.
Trading at Settlement (TAS) Trading at Settlement is allowed in the active contract month. The active contract months will be February, April, June, August and December. On any given date, TAS transactions will be allowed only in a single contract month. TAS transactions may be executed at the current day’s settlement price or at any valid price increment ten ticks higher or lower than the settlement price.
Grade and Quality Specifications Gold delivered under this contract shall assay to a minimum of 995 fineness.
Position Limits NYMEX Position Limits
Rulebook Chapter 113
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of COMEX.

About Gold

Gold futures are hedging tools for commercial producers and users of gold. They also provide global gold price discovery and opportunities for portfolio diversification. In addition, they:

  • Offer ongoing trading opportunities, since gold prices respond quickly to political and economic events
  • Serve as an alternative to investing in gold bullion, coins, and mining stocks

Things to know about the contracts:

  • Physically delivered
  • Block-trade eligible
  • American-style options
  • Can be traded off-exchange for clearing only through CME ClearPort