Gold Futures Trading Guide
GC and MGC explained — specs, sessions, drivers and prop firm considerations.
Learning guide · 7 min read
New to funded futures trading? See the full ranked comparison of the best futures prop firms — drawdown type, payout speed and real withdrawal proof for every firm I trade.
Read the ranked guideEducational content, not financial advice. Contract specs come from CME Group and can change — verify before trading. My prop firm partners are FundedNext, Tradeify and Apex.
Gold futures trade as GC (100 oz, $10 per $0.10 tick) and MGC (10 oz, $1 per tick). Gold can move fast around US data and rate news, so size carefully — especially on funded accounts.
GC vs MGC contract specs
| Contract | Size | Tick size | Tick value |
|---|---|---|---|
| GC (Gold) | 100 troy oz | $0.10 | $10.00 |
| MGC (Micro Gold) | 10 troy oz | $0.10 | $1.00 |
Margins change with volatility — see futures margin requirements. For other micros, check micro futures contract specs.
What moves gold
- Real interest rates and Fed expectations.
- US dollar strength.
- Inflation data (CPI, PCE) and jobs reports.
- Geopolitical risk and central bank demand.
Trading gold on a prop firm account
Gold's volatility can burn through a trailing drawdown quickly. Many traders start with MGC to keep risk per tick small. Check permitted products and news rules — compare firms in my best futures prop firms guide.
Orderflow on gold
The same orderflow principles I use on index futures apply: watch for absorption and delta shifts at key volume levels. Learn the basics in orderflow trading explained. My daily orderflow levels focus on ES and NQ — preparation and context, not trade signals.
Gold Futures FAQ
What is the gold futures symbol?+
GC is the standard COMEX gold contract (100 troy ounces). MGC is the micro contract (10 troy ounces).
What is the tick value of gold futures?+
GC moves in $0.10 increments worth $10 per tick. MGC moves in $0.10 increments worth $1 per tick. Confirm specs on CME Group.
When does gold futures trade?+
Nearly 24 hours, Sunday to Friday on CME Globex, with a daily maintenance break. See my futures trading hours guide.
Can you trade gold futures with a prop firm?+
Many futures prop firms allow GC and MGC. Check each firm's permitted products and contract limits.
Is MGC good for beginners?+
Yes — MGC is one-tenth the size of GC, so risk per tick is much smaller while you learn.
What moves gold prices?+
Real interest rates, the US dollar, inflation data, central bank buying and geopolitical risk are common drivers.