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Gold Futures Contract Specs

Contract Unit 100 troy ounces
Price Quotation U.S. dollars and cents per troy ounce
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. /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 = $10.00
Product Code CME Globex: GC
CME ClearPort: GC
Clearing: GC
Listed Contracts Monthly contracts listed for 3 consecutive months and any February, April, August, and October in the nearest 23 months and any June and December in the nearest 72 months
Settlement Method Deliverable
Termination Of Trading Trading terminates at 12:30 p.m. CT on the third last business day of the contract month.
Trade At Marker Or Trade At Settlement Rules Trading at Settlement (TAS) is allowed in the first ,second ,third and fourth 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