Gold vs Micro Gold
Same underlying, different size: one GC equals 10 MGC.
Margins as of Specs checked as of How we source this
| GC | MGC | |
|---|---|---|
| Exchange | Commodity Exchange Inc. | Commodity Exchange Inc. |
| Contract unit | 100 troy ounces | 10 troy ounces |
| Tick size | 0.1 | 0.1 |
| Tick value | $10 | $1 |
| One point | $100 | $10 |
| Initial margin | $22,211.20 | $2,222 |
| Maintenance margin | $20,192 | $2,020 |
| Settlement | Physical delivery | Physical delivery |
| Contract months | Feb (G), Apr (J), Jun (M), Aug (Q), Oct (V), Dec (Z) | Feb (G), Apr (J), Jun (M), Aug (Q), Oct (V), Dec (Z) |
| Front contract | GCZ26, roll by 25 Nov 2026 | MGCZ26, roll by 25 Nov 2026 |
| Trading hours | CME Globex. Sunday open 17:00 CT, Friday close 16:00 CT, 60-minute daily maintenance break. | CME Globex. Sunday open 17:00 CT, Friday close 16:00 CT, 60-minute daily maintenance break. |
How they compare
Gold (GC) and Micro Gold (MGC) track the same underlying on Commodity Exchange Inc.. The difference is size. One point is worth $100 on GC and $10 on MGC, so one GC carries the same exposure as 10 MGC contracts. Ticks are 0.1 on GC, worth $10, and 0.1 on MGC, worth $1.
Exchange initial margin is $22,211.20 for GC and $2,222 for MGC, a ratio of 10.0 to 1. Margins are set product by product, so they don't always scale exactly with contract size. Both trade the same hours (CME Globex. Sunday open 17:00 CT, Friday close 16:00 CT, 60-minute daily maintenance break).
The practical difference is granularity. With MGC, position size moves in steps of $1 per tick rather than $10, which matters when the amount you are prepared to lose at a given stop isn't a whole number of GC contracts. Commissions and exchange fees are charged per contract, so 10 MGC usually cost more to trade than one GC; check both with your broker, along with liquidity at the times you trade.
Size a position on either with the GC calculators or the MGC calculators.
Questions
- How many MGC equal one GC?
- 10. One GC point is worth $100; one MGC point is worth $10.
- What is the margin difference between GC and MGC?
- Exchange initial margin is $22,211.20 for GC and $2,222 for MGC (as of 27 Oct 2026).
- Do GC and MGC trade the same hours?
- Yes.