Micro Gold Futures (MGC): Beginner Guide

Learn the mechanics behind gold exposure.

Start with the instrument's mechanics before interpreting a price chart. This guide offers context and study exercises, not trading signals.

Micro Gold contract facts

Contract size: 10 troy ounces
Outright tick: $0.10 per ounce = $1.00
Settlement: Physical delivery

Contract facts · Current CME specifications

DAILY FUTURES CHART · UPDATED EACH SUNDAY

Micro Gold futures (MGC) · daily

Real MGC futures data: COMEX_MINI:MGC1! continuous front-month contract from TradingView, daily candles through 10-30-2026. This is a weekly snapshot, not a live quote.

Shaded box: last week. Dashed lines: last week's high and low. Lines: 21, 50 and 200 EMAs (key at the top of the chart).

Open the live MGC futures chart ↗

Opens TradingView. Free accounts may see delayed CME data; check its data-status label. This is a continuous contract; verify the tradable month with your broker.

01 · CONTEXT

A brief history

Micro Gold began trading on October 4, 2010. It made COMEX gold exposure available at one-tenth the size of the standard 100-ounce GC contract.

CME launch and product history

02 · BENEFITS & TRADEOFFS

Why traders study MGC

Smaller increments of gold exposure than GC can help with position sizing.
Access to a distinct commodity market for studying macroeconomic events. Diversification is not guaranteed.

A smaller contract changes exposure size. It does not make a strategy profitable or eliminate leverage.

CME product information

03 · RELATIONSHIPS

Related markets to compare

Compare GC and silver for metals context, then observe the U.S. dollar and Treasury yields. Gold's relationship with other assets can change; an inverse move is not a rule.

Suggested study comparisons, not fixed correlation coefficients. Record the time period and exceptions.

Market and index context

04 · CHART STUDY

Common chart structures to study

Ranges, support and resistance, breakouts and pullbacks are useful observations to practice. These exercises do not claim a pattern occurs more often in MGC or predicts the next move.

Mark yesterday's high and low; observe whether a break holds or returns inside the range.
After scheduled inflation or Federal Reserve news, compare the first move with later follow-through.

CME support and resistance lesson

05 · RISK ASSESSMENT

Smaller size. Substantial risk.

Gold can reprice around economic and policy news. MGC is physically deliverable: understand your broker's close-out deadlines and delivery rules before holding near expiry.

Hypothetical loss example: A $10-per-ounce adverse move × 10 ounces = $100 loss on one MGC contract.

Fees and slippage add to the example. A stop order may not fill at its requested price. Margin is collateral, not a maximum loss. Leveraged futures can lose more than the initial deposit.

CFTC futures risk education · Settlement and expiry rules

YOUR FIRST STUDY SESSION

Start with a written observation

Write down the active contract month, tick value and a hypothetical loss before studying the chart.

Use a simulator first. Record what you see, what would challenge your interpretation, and what you still need to verify.

Read The Sunday Prep, our free weekly outlook →

Martech Holdings Incorporated · Educational information, not individualized financial advice.

Sources checked October 10, 2026. Confirm current specifications, fees, margins and data status with the provider.