What are gold futures?
Gold futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of gold at a predetermined price on a future delivery date. Gold futures give companies involved in the precious metals industry a way to hedge their gold price risk on an expected future purchase or sale of gold. They also allow investors to participate in an easy and convenient alternative to traditional means of investing in gold. Gold can be considered the ultimate store of value. Buying gold futures contracts as an anti-inflation hedge may be their primary use. The liquidity of the gold futures contract often makes it easier to take advantage of opportunities in nearly all market conditions.
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Gold futures are traded at both the COMEX division of the New York Mercantile Exchange (NYMEX) and the Intercontinental Exchange (ICE). The standard contract size is 100 troy ounces, with two additional smaller contracts at 50 and 32.15 troy ounces. Both exchanges specify the delivery of gold to New York area vaults and are subject to change by the exchange. An account approved to trade futures is required in order to trade gold futures.
Gold futures contract specifications
Considering trading gold futures? Here are the gold futures contract specifications.
|Contract Size||100 troy ounces|
|Minimum Tick Size and Value||0.10, worth $10.00 per contract.|
|Trading Times||Gold futures trade from 6:00 p.m. U.S. ET until 5:00 p.m. U.S. ET, Sunday through Friday, with a 60-minute break each day beginning at 5:00 p.m. U.S. ET.|
|Principal Trading Months||Primary gold futures contracts are February, April, June, August, October, and December.|
At Schwab, you also get access to advanced trading platforms and education, where you can take advantage of market research, real-time gold futures quotes, and other specialized tools.
- Why trade gold futures?
- Benefits and risks of trading gold futures
Futures trading at Schwab
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