Micro Gold Futures (MGC) | Contract Overview

The ticker symbol for Micro Gold futures is MGC.

One MGC contract represents 10 troy ounces of gold.

The contract's notional value changes with the price of gold. For example, if gold is trading at $3,000 per ounce:

$3,000 × 10 ounces = $30,000 notional contract value

This does not mean a trader must deposit the full notional value to trade the contract. Futures are margined products.

The minimum price movement for MGC is $0.10 per troy ounce.

Because one contract represents 10 ounces, one minimum tick equals:

$0.10 × 10 = $1.00 per contract

A $1.00 move in the price of gold therefore represents a $10 change in the value of one MGC contract.

The primary difference is contract size.

Gold futures (GC) represent 100 troy ounces of gold, while Micro Gold futures (MGC) represent 10 troy ounces.

That makes MGC one-tenth the size of GC, allowing traders to use smaller position sizes and manage exposure in finer increments.

Micro Gold futures trade electronically on CME Globex from Sunday at 5:00 p.m. CT through Friday at 4:00 p.m. CT, with a 60-minute trading break each day beginning at 4:00 p.m. CT.

Trading hours may change around exchange holidays.

Micro Gold futures are generally listed for February, April, June, August, October, and December delivery months within the applicable listing period established by CME Group.

Yes. Micro Gold futures are physically settled.

Traders who do not intend to participate in the delivery process should understand their broker's procedures and close or roll positions before applicable delivery deadlines.

Trading in a Micro Gold futures contract terminates on the third-to-last business day of the delivery month.

Traders should pay close attention to expiration and brokerage-specific liquidation or delivery policies when holding positions near expiration.

At Lincoln Park Financial, the day trading margin for Micro Gold futures (MGC) is $100 per contract.

Overnight margin requirements are higher and are based on exchange and clearing requirements. Margin requirements may also change during periods of increased market volatility.

Margin is not the maximum amount a trader can lose. Futures are leveraged products, and losses can exceed the amount deposited to support a position.

Yes. Micro Gold futures are commonly used for intraday trading.

At LPF, the intraday margin for MGC is $100 per contract, giving traders access to gold futures with a smaller capital requirement than larger Gold futures contracts.

Traders should still account for commissions, exchange fees, market data costs, and LPF's risk and liquidation requirements when trading.

Micro Gold futures (MGC) provide exposure to gold price movements using a smaller contract size than standard Gold futures (GC).

Each MGC contract represents 10 troy ounces of gold, compared with 100 troy ounces for a standard GC contract.

The smaller contract size may allow traders to:

• Adjust gold exposure in smaller increments

• Scale positions using smaller contract sizes

• Hedge smaller amounts of gold exposure

• Use a smaller margin requirement per contract than GC

At Lincoln Park Financial, the day trading margin for MGC is $100 per contract. Margin requirements are subject to change based on market conditions, exchange requirements, and risk policies.

The smaller contract size and lower margin requirement do not mean lower trading risk. Futures are leveraged products, and losses may exceed the funds deposited to support a position.