Gold Futures
What are gold futures?
Representing 100 troy ounces of gold, CME Group's Gold futures contract is one of the most widely traded metals contracts in the world and an alternative to the traditional means of investing in gold. Gold futures might be used as a way to hedge against inflation, as gold prices have historically responded quickly to political and economic events. CME Group provides access to Mini Gold, Micro Gold, and 1 oz Gold futures contracts. The Mini Gold futures contract is 1/5th the size of the standard contract, and the Micro Gold futures contract is 1/10th the size.
How to trade gold futures
Gold futures, Mini Gold futures, Micro Gold futures, and 1 oz Gold futures can be traded nearly 24 hours a day, 5 days a week on the thinkorswim® trading platforms. In addition to our advanced trading platforms, you also get access to market research, real-time gold futures quotes, specialized tools, and educational resources to support your trading.
Market price
As with many futures contracts, the price of gold futures depends on the price of the commodity itself. A variety of factors—including current supply and demand, market volatility, and interest rates—can affect gold's price over time.
Contract specifications
| | Symbol | Options Tradable on thinkorswim®2 | Multiplier | Minimum Tick Size and Value | Settlement | Trading Days/Hours |
|---|---|---|---|---|---|---|
| Gold | /GC | Yes | $100 | 0.10 = $10.00 | Physical1 | 6 p.m. ET Sunday to 5 p.m. Friday |
| Mini Gold | /QO | No | $50 | 0.25 = $12.50 | Cash | 6 p.m. ET Sunday to 5 p.m. Friday |
| Micro Gold | /MGC | No | $10 | 0.10 = $1.00 | Physical1 | 6 p.m. ET Sunday to 5 p.m. Friday |
|
1 Oz Gold
|
/1OZ
|
No
|
$1
|
0.25 = $0.25
|
Cash
|
6 p.m. ET Sunday to 5 p.m. Friday |
Gold Futures FAQs
Gold futures can make it possible to take advantage of opportunities in nearly all market conditions and might be used as a way to hedge against inflation. Gold futures can also offer potential opportunity for portfolio diversification by presenting an alternative to physical gold, gold coins, and gold mining stocks. Options on gold futures are also available.
It's important to understand both the benefits and risks of trading gold futures. These contracts let you trade nearly 24 hours a day, 5 days a week, and potentially capitalize on market moves in any direction. Gold futures offer leverage, which might allow for more efficient use of capital. However, leveraged products like gold futures aren't suitable for all investors. Small market movements can result in significant losses, including losses greater than your initial investment.
Ready to trade futures?
Not yet a Schwab client?
Open a brokerage account online, then go to the Getting Started page for next steps.
Already a client?
Use your eligible brokerage account to apply for a futures trading account.