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Micro Gold Futures (MGC) Contract Specifications

Micro Gold Futures (MGC) Contract Specifications

What you're trading

The Micro Gold future (MGC) is 1/10th the size of the GC contract and tracks the same COMEX gold prices. MGC was designed to make gold futures accessible to smaller accounts, allow finer position sizing than GC permits, and enable strategies that would be prohibitively capital-intensive in the full contract. Daily settlement prices for MGC are identical to GC, and a 10:1 offset is available at CME Clearing between MGC and GC positions.

Contract size

10 troy ounces of gold. 

Tick value

Minimum price fluctuation is $0.10 per troy ounce, and each tick is worth $1.00 per contract. A $1.00 move in the per-ounce price equals $10, and a $10 move equals $100 per contract.

Trading hours

CME Globex: Sunday 5:00 p.m. CT through Friday 4:00 p.m. CT, with the 4:00–5:00 p.m. CT maintenance halt Monday through Thursday.

Settlement type

Physically delivered, though the small contract size means most MGC traders close or roll positions well before expiration. Active delivery months mirror GC: February, April, June, August, October, and December.

Margin snapshot

MGC margin is roughly 1/10th of GC, making it one of the most accessible ways to get direct gold futures exposure.

Initial margin (overnight)

~$1,400–$1,800 per contract (approximate; varies with volatility)

Maintenance margin

~$1,270–$1,640 per contract

Day-trade margin

Broker-set; often a small fraction of overnight margin

Notional value (reference)

~$33,000 at $3,300/oz

Margins change with market volatility and vary by broker. The figures above are approximate and for reference only — always confirm current requirements with MetroTrade support or on the CME margin page before trading.

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