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Gold Futures Contract Specs

    Effective Sunday, 22 October 2017 for trade date Monday, 23 October 2017, and pending all relevant regulatory review periods, please be advised that COMEX will launch Gold TAM.

Contract Unit 100 troy ounces
Price Quotation U.S. Dollars and Cents per troy ounce
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.10 per troy ounce
Product Code CME Globex: GC
CME ClearPort: GC
Clearing: GC
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 Method Deliverable
Termination Of Trading Trading terminates on the third last business day of the delivery month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement is allowed in the active contract month. The active contract months are February, April, June, August and December. On any given date, TAS transactions are allowed only in a single contract month. TAS transactions are executed at the current day’s settlement price or at any valid price increment ten ticks higher or lower than the settlement price.
Settlement Procedures Gold Settlement Procedures
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 113
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
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.
Grade And Quality Gold delivered under this contract shall assay to a minimum of 995 fineness.

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