1 Ounce Gold Futures (1OZ): The Smallest COMEX Gold Contract

Q: What is the 1OZ tick value?

1OZ ticks in $0.25 steps, and because the contract is one ounce, a tick equals $0.25.

Q: What does a $10 gold move do to a 1OZ position?

$10, because the contract covers exactly one ounce.

Q: When can 1OZ be traded?

Around the clock, seven days a week, except maintenance from 4:00 p.m. to 4:02 p.m. CT Monday through Friday and 2:00 a.m. to 4:00 a.m. CT on Saturday.

Q: Is 1OZ physically delivered?

No. It is cash settled, using the GC settlement price for the matching contract month.

Q: When does a 1OZ contract expire?

The last trading day falls on the third last business day of the preceding month, so the December 1OZ contract finishes in late November.

Q: Which months does 1OZ list?

1OZ follows the even month gold cycle (February, April, June, August, October, December) and lists contracts up to two years out.

Q: What does it cost in margin to hold 1OZ?

Lincoln Park Financial lists $25 to day trade and $264 to carry one contract overnight, per our margins page . Amounts can change.

Q: How many 1OZ contracts equal one GC contract?

One hundred. Ten 1OZ contracts equal one MGC, and fifty equal one QO.

Q: Who is 1OZ designed for?

Traders who are new to gold futures, accounts that want very small position size, and traders adding to a larger gold position in one ounce steps.

What Is a 1 Ounce Gold (1OZ) Futures Contract?

1 Ounce Gold futures (1OZ) are the smallest gold futures contract on COMEX, part of CME Group. Each contract covers a single troy ounce, one hundredth of COMEX Gold (GC) and one tenth of Micro Gold (MGC), and is settled in cash against the GC settlement price.

1OZ trades 24/7 on CME Globex apart from short scheduled maintenance windows, so gold news that breaks on a weekend can be traded before the regular COMEX session reopens. A $0.25 tick is worth $0.25, which makes 1OZ a way to learn how gold futures behave with very small position size, or to fine tune a larger gold position.

1 Ounce Gold (1OZ) Contract Specifications

Product:

1 Ounce Gold Futures

Futures Contract Symbol:

1OZ

Exchange:

COMEX (part of CME Group)

Contract Size:

1 troy ounce

Trading Hours:

Around the clock on CME Globex, except maintenance from 4:00 PM to 4:02 PM CT Monday to Friday and from 2:00 AM to 4:00 AM CT Saturday

Minimum Price Fluctuation:

$0.25 per ounce, so one tick equals $0.25

Contract Months:

Bimonthly: Feb, Apr, Jun, Aug, Oct and Dec, out to 24 months

Settlement Method:

Financially settled in cash against the GC settlement price

Exchange Fees:

$0.25/contract

1 Ounce Gold (1OZ) Margin

Holding Period:

Day Trading Margins

Overnight Margins

Margins:

$25

$264

All four COMEX gold sizes are compared on our gold futures hub, and every metals margin is listed on the margins page. As a position grows, traders often look at Micro Gold (MGC), E-mini Gold (QO) or COMEX Gold (GC). Begin with a single ounce by opening an account, or ask us for a commission quote.

Source: CME

The above information is derived from sources believed to be accurate. It is provided without guarantees and is subject change without notice.

Gold Price Moves Outside the Regular Session

Because 1OZ trades through weekends and overnight, it can respond to events while the larger gold contracts are closed. These are the kinds of developments 1OZ traders follow; they describe market activity, not a forecast.

Weekend geopolitical news: conflicts, elections and policy announcements that occur on Saturday or Sunday.
Asian trading hours: gold demand from Shanghai and other Asian markets during the U.S. night.
Central bank statements: comments from Federal Reserve officials and other central banks on rates and reserves.
Currency markets: moves in the dollar against the euro, yen and yuan.

Daily and final settlement for 1OZ are derived from GC settlements, which ties 1OZ prices to the main COMEX gold market. Even at one ounce, leverage means a trader can lose more than the funds on deposit.