MGC Tick Value, Point Value & Contract Specs
One MGC (Micro Gold) tick is $0.10 per troy ounce and is worth $1.00 per contract. A 1.00 move in the price is worth $10. Source: CME Group contract specs.
MGC contract specs
| Product | Micro Gold Futures |
|---|---|
| Symbol (CME Globex) | MGC |
| Exchange | COMEX (rulebook chapter COMEX 120) |
| Contract unit | 10 troy ounces |
| Price quoted in | USD per troy ounce |
| Tick size (outright) | $0.10 per troy ounce |
| Tick value | $1.00 per contract |
| Point value (1.00 move) | $10 per contract |
| Ticks per 1.00 move | 10 |
| Settlement | Physical delivery |
| Listed contracts | Monthly contracts listed for any Feb, Apr, Jun, Aug, Oct, and Dec in the nearest 24 months. Month codes: G J M Q V Z |
| Next expiry | MGCV6 still trades until Wed, Oct 28, 2026, but its suggested roll date has passed: the front month is now MGCZ6. MGCZ6 (Dec 2026): suggested roll Wed, Nov 25, 2026, last trading day Tue, Dec 29, 2026. Rollover calendar |
| Trading hours | CME Globex: Sunday–Friday 5:00 p.m. – 4:00 p.m. CT (6:00 p.m. – 5:00 p.m. ET), with a daily break 4:00 p.m. – 5:00 p.m. CT. Trading hours today and holidays |
| Larger contract | GC (Gold): MGC = 1/10 of GC. |
Sources: CME Group contract specs (read October 23, 2026) · Barchart contract profile (cross-check) (read October 23, 2026). Tick size, tick value and contract size come from the CME Group spec page. A second source, read the same day, confirms them: Barchart's contract profile (tick size and tick value) or, for MYM, M2K, MCL and M6E, TradingView (contract size).
How much is 1 MGC contract?
Type the current price. The default is an example level, not a quote.
Notional value: $40,000$4,000.00 × $10 × 1 contract
Notional value is the size of the exposure, not the cash you need. Your broker asks for a margin, set by the broker and CME.
About MGC
MGC is 10 troy ounces of gold, one tenth of GC, with the same $0.10 tick worth $1.
CME lists it only in the gold active months (Feb, Apr, Jun, Aug, Oct, Dec), while GC is listed in every month.
Like GC it is physically delivered, so a long position should be closed or rolled before first notice day.
All 6 futures prop plans in our position size calculator (Lucid Flex 50K, Tradeify Select 50K, Topstep 50K Combine, Apex 50K EOD, MFFU Rapid 50K, FTMO Futures Growth 50K) list a commission for MGC in their rules. MFFU Rapid 50K rules also say: “metals micros capped at 5 on 50K since 17 Apr; SI, HG, PL, NG, QG restricted since 7 Feb”. Size a trade within a plan's limits with the futures position size calculator.
Trading strategies backtested on the continuous GC contract (GC1!): best GC strategies. MGC trades the same prices as GC.
What one MGC move is worth
Worked examples with an example move (not a quote):
- A $10.00 move on 1 MGC = 100 ticks × $1.00 = $100.00.
- A $10.00 move on 2 MGC = $200.00.
- 1 tick on 10 MGC = 10 × $1.00 = $10.00.
- The same $10.00 move on 1 GC = $1,000.00.
MGC and GC
MGC is the micro version of GC. MGC = 1/10 of GC: GC ticks are worth $10.00 and a 1.00 move is $100.
Micros let you size in smaller steps: a stop of the same distance costs a fraction as much. See micro vs mini futures to convert a position from one to the other.
MGC futures calculator
Trade
Contract: MGC (Micro Gold). Other contracts
1 tick = 0.1 = $1.00 · 1.00 move = $10
Commission per contract, per side (entry and exit are each charged). Add exchange and clearing fees if your broker lists them separately.
Profit and loss
+100 ticks × $1.00 × 1 contract = $100.00 gross
$100.00 − $0.00 commission = $100.00 net
Notional value at entry (example price, not a quote): $40,000 (4,000.0 × $10 × 1 contract).
You know what one MGC tick pays. Does your strategy catch them?
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MGC FAQ
How much is 1 MGC contract worth?
Its notional value is the price times $10. At an example price of $4,000.00, 1 MGC controls $40,000. Type the current price in the notional value box on this page for today's figure. The margin your broker asks to hold the contract is a different, much smaller number set by the broker and CME.
What is the MGC tick value?
One MGC tick is $0.10 per troy ounce and is worth $1.00 per contract (CME Group contract specs). A 1.00 move in the price is worth $10.
How many ticks are in a point on MGC?
10. A tick is $0.10, so a 1.00 move is 10 ticks × $1.00 = $10.
How many MGC make one GC?
10 MGC carry the same exposure as 1 GC: 10 × $10 = $100 per 1.00 move. A $10.00 move is worth $1,000.00 on 1 GC and $100.00 on 1 MGC.
Is MGC cash-settled?
No. MGC is settled by physical delivery ("deliverable" in the CME specs): a position held through expiry ends in delivery of the underlying.
Which months does MGC trade?
Monthly contracts listed for any Feb, Apr, Jun, Aug, Oct, and Dec in the nearest 24 months (CME Group). Month codes: G, J, M, Q, V, Z.