Gold Futures Contract Specs

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 TAS: GCT TAM: GCD
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 at 12:30 p.m. CT on the third last business day of the delivery month.
Trade At Marker Or Trade At Settlement Rules	Trading at Settlement (TAS) is allowed in the first nearby active and second nearby active contract months - February, April, June, August and December. TAS transactions may be executed at the current day’s settlement price or at any valid price increment up to 10 ticks higher or lower than the settlement price. TAS trading terminates 3 business days prior to the contract month. Trading at Marker (TAM) is analogous to our existing Trading at Settlement (TAS) wherein parties are permitted to trade at a differential that represents a not-yet-known price. TAM trading will use a marker price, whereas TAS trading uses the Exchange-determined settlement price for the applicable contract month. As with TAS trading,parties enter TAM orders at the TAM price or at a differential between one and ten ticks higher or lower than the TAM price. Trading at Marker is available for the London p.m. Marker on the nearest active month ( February, April, June, August, December).
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

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.