Gold Futures Calculator — GC & MGC P/L
Calculate profit, loss, tick value and point value for COMEX gold futures. Covers the GC contract (100 oz) and the MGC mini (10 oz) with built-in exchange specs.
Gold Futures Contract Specs (COMEX)
| Spec | GC (full) | MGC (micro) |
|---|---|---|
| Contract size | 100 troy oz | 10 troy oz |
| Minimum tick | 0.10 = $10.00 | 0.10 = $1.00 |
| Point value ($1.00 move) | $100.00 | $10.00 |
| Trading hours | Nearly 23h/day, Sun–Fri | Nearly 23h/day, Sun–Fri |
Points = (Exit − Entry) in dollars per ounce
How Gold Futures Profit Is Calculated
Futures profit is the price change per ounce multiplied by the ounces per contract and the number of contracts — a 0.10 tick is $10 on the GC and $1 on the MGC, and a full $1.00 point is $100 and $10 respectively.
Example: long 2 GC contracts at $2,400.00, exit at $2,420.00 → 20 points × $100 × 2 = $4,000 profit. The same move on 2 MGC contracts is $400.
Margin and leverage: futures use exchange-set margin (a percentage of notional value). At $4,100/oz, one GC contract is worth $410,000 notional — with a 5% margin that is $20,500 posted per contract. A 2% adverse move (~$82/oz) wipes out 40% of that margin, and the exchange will liquidate positions that cannot maintain margin. Most retail accounts that trade futures with high leverage lose money.
FAQ
How do you calculate profit on gold futures?
Profit = points moved x point value x contracts. The GC contract is 100 oz with a 0.10 tick worth $10 and a $1.00 point worth $100; the MGC mini is 10 oz with $1 ticks and $10 points.
How much is a tick on gold futures worth?
The minimum tick on COMEX gold futures is 0.10 per ounce: $10.00 on the GC (100 oz) and $1.00 on the MGC (10 oz). A $1.00 point is worth $100 on GC and $10 on MGC.
What is the difference between GC and MGC gold futures?
GC is the full COMEX gold contract at 100 troy ounces (tick $10, point $100). MGC is the micro contract at 10 troy ounces (tick $1, point $10) — ten times smaller, designed for smaller accounts and finer position sizing.
How much margin do I need for gold futures?
Margin is set by the exchange and varies with volatility. As a rule of thumb, one GC contract at $4,100/oz has ~$410,000 notional value and typically requires 3–10% margin (roughly $12,000–$41,000). Never risk more than 1–2% of capital per trade.
Do gold futures have overnight swap fees?
No — futures have no swap. Financing is handled through margin and daily mark-to-market settlement. Swap charges only apply to spot gold CFDs held overnight.
How many contracts of gold futures should I trade?
Size by risk: contracts = risk amount / (stop distance in points x point value). With a $500 risk and a 5-point stop on GC ($100/point), that is 1 contract. Futures liquidate losing positions automatically — always use stops.
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