Gold futures (GC and MGC): specs, tick value and sizing

GC and MGC contract specs

Both contracts are listed on COMEX, part of CME Group, and trade on CME Globex. MGC is one-tenth the size of GC with the same 10-cent tick.

What a point and a tick are worth

Gold is quoted in dollars per troy ounce. Ten cents is one tick, and most platforms treat a $1.00 move (10 ticks) as one point.

• A $12.30 rally is 123 ticks. One GC makes 123 × $10 = $1,230. One MGC makes 123 × $1 = $123.
• A $5.00 stop is 50 ticks: $500 on one GC, $50 on one MGC.
• Notional size: at $4,000 an ounce, one GC controls $400,000 of gold (100 × $4,000). One MGC controls $40,000.

Sizing GC and MGC on a funded account

This example uses the Hero ONE 1-Step $100K funded account: a $2,250 daily drawdown (reaching it breaches the account immediately), a $3,000 end-of-day trailing max drawdown, and a cap of 10 minis / 100 micros open at one time. The evaluation has the same $3,000 max drawdown and no daily limit.

Size matters fast in gold. At 5 GC on the $100K, each $1.00 move is worth $500, so a $4.50 move (45 ticks) uses the whole $2,250 daily drawdown. At the full 10 GC it takes only $2.25.

1. Start from the limit that binds firstHere that is the $2,250 daily drawdown, not the $3,000 max.
2. Set a per-trade riskYour choice, not a firm rule. Say $400.
3. Price the stopA $4.00 stop is 40 ticks: $400 per GC, $40 per MGC. That is 1 GC or 10 MGC.
4. Use MGC for wider stopsA $6.00 stop costs $600 per GC, over budget. At $60 per MGC, 6 MGC ($360) fits.

Volatility and session behaviour

Gold trades nearly around the clock. It tends to be most active from the London morning through the US morning, and quieter in the Asian session, although overnight headlines can still move it. FundedHero Futures notes that liquidity right after the 6:00 PM ET open is often thin, especially on Sundays and holidays.

Gold is sensitive to the US dollar, interest-rate expectations and risk sentiment. Inflation and jobs data at 8:30 AM ET and Federal Reserve decisions at 2:00 PM ET can produce moves of several dollars in seconds, and geopolitical news can trigger safe-haven buying at any hour. GC is a dated contract, so check you are in the active month around each roll.

How FundedHero Futures rules apply to gold

Products and contract limits

GC and MGC are on the available products list under COMEX metals, with silver (SI, SIL), copper (HG) and platinum (PL). Each plan caps how many contracts you can have open at once, written as minis and micros. If you are unsure how a full-size contract like GC counts, ask support before you trade.

Hours and the 4:10 PM ET auto-close

Trading is permitted from the 6:00 PM ET Globex open. All positions close automatically at 4:10 PM ET, so there is no overnight or weekend holding, and pushing orders after 4:10 PM ET can lead to disqualification. The trading day resets at 6:00 PM ET. On early-close holidays positions are not closed for you.

News trading

News trading is allowed, including NFP, CPI and FOMC. Expect slippage and wider spreads.

The 30-second rule

After every execution, wait at least 30 seconds before your next execution on the same account. Adjusting stops and taking partials on an open position is fine. Up to four violations keeps the account active but pays only 25% of the eligible profit split; five or more breaches the account and resets it to its original phase (full policy).

End-of-day trailing drawdown

All drawdown is end-of-day trailing. On the Hero ONE 1-Step $100K funded account the level starts at $97,000. Close a day at $101,400, a new high, and it rises to $98,400. It never moves down, and only the balance at the 6:00 PM ET rollover is checked.

Frequently asked questions

Contract specifications are from CME Group and can change; confirm them at cmegroup.com before trading. Price levels and trade sizes above are examples, not recommendations. FundedHero Futures accounts are simulated, and payouts depend on following the rules. Futures trading involves substantial risk.