Gold is one of the most widely followed commodities in the futures market. If you want to trade or follow gold futures, understanding its symbol and tick value is essential. In this guide, you'll learn what the gold futures symbol means, how the contract is structured, how tick values work, and what the implications are for your trading.

🔍 What is the Gold Futures Symbol?

• On the CME (COMEX), the standard gold futures contract is identified by the ticker “GC.” 

• There are also scaled versions of the gold futures contract:

  • Micro Gold Futures, ticker MGC, representing 1/10 of the standard contract size. 

  • E‑mini or Mini Gold Futures (e.g., “QO” on some platforms) also exist in between standard and micro. 

So, for example, GC = full-size gold futures, MGC = micro gold, etc.

⚙️ Contract Size & Structure

Here are the relevant specs you should know:

These contracts are traded on regulated exchanges (CME / COMEX) with specific expiration months and symbols that combine the base symbol + month code + year code (e.g. “GCZ25” for the December 2025 gold contract). 

💵 What is Tick Size & Tick Value in Gold Futures?

To understand profits, losses, and risk, you must know how much each minimum price move (tick) is worth.

So:

• For GC, every time the price moves by $0.10 per ounce, that’s $10 of gain or loss on one contract.

• For MGC, the same $0.10 move equals $1 of gain or loss.

🔄 Why This Matters for Traders

1. Leverage & Risk Management
   Because tick values are large (especially in the standard contract), even small price moves can result in big profits or losses. Knowing tick value helps you size your position properly.

2. Margin & Cost
   Contracts with higher tick value typically require larger margin (capital to maintain open positions) and come with higher volatility. Micro futures allow lower-risk entry.

3. Profit Target & Stop‑Loss Planning
   When you set stop losses or profit targets, knowing how many ticks (and thus how much money) is at stake helps plan trades more precisely.

4. Broker Commissions & Slippage
   Trading costs (commissions, slippage) must be considered. E.g. if commission or slippage eats up 1 tick or more, your risk/reward calculations change.

📊 Example: Using Symbol & Tick Value

Suppose you trade one GC contract:

• Entry: $2,300.00 per ounce

• Exit: $2,300.40 per ounce

• Move = $0.40 / ounce = 4 ticks (since each tick is $0.10)

• Profit = 4 × $10 = $40 (before fees)

If instead using MGC:

• Same move (4 ticks) = 4 × $1 = $4

This shows how micro contracts reduce exposure and risk.

🧠 Final Thoughts

• The gold futures tick value is usually GC for standard gold, MGC for micro gold (and mini or other versions on some platforms).

• Tick size is $0.10 per ounce, but the tick value depends on contract size—$10 per tick for standard, $1 per tick for micro.

Understanding these basics is essential if you’re trading gold futures—so you can manage risk, size positions properly, and set realistic profit/loss targets.