Market reference update: Contract examples below may be historical. See the official exchange resources for current listings and terms.
Gold futures are standardized, exchange-traded contracts in which the contract buyer agrees to take delivery, from the seller, a specific quantity of gold (eg. 100 troy ounces) at a predetermined price on a future delivery date.
Some Facts about Gold
Gold is a soft, dense, shiny and highly attractive bright yellow metal. Since thousands of years ago, gold has been used to fashion ornaments and jewelry. Gold is also the ultimate store of value. Buying gold as an anti-inflation hedge is the primary use of gold today. [Click here to learn more about Gold and it's other uses...]
Exchange and contract information
Contract availability, lot size, quotation units, exercise style and settlement are product-specific. Use the current official resources below; historical contracts named in older examples should not be assumed to be listed today.
Official futures market resources
Use the exchange pages for current contract specifications and margin information. Quotes may be delayed or require sign-in. Margin requirements vary by position and broker.
| Exchange & futures product | Market information | Margin information |
|---|---|---|
| COMEX Gold (GC) | Quotes / market data Contract specifications | View margin information |
| Osaka Exchange Gold Standard | JPX quotes directory Contract specifications | View margin information |
For Japanese quotes, open the JPX directory and select the relevant OSE or TOCOM service.
Current Japanese product information is published by JPX for Osaka Exchange; older TOCOM/TGE references in the examples are historical.
Exchange references reviewed 2026-09-12. Educational examples and exchange names elsewhere in this article may be historical.
Gold Spot Price Chart — USD
OANDA Gold spot reference price. Spot prices differ from futures contract prices. Check the widget timestamp and market status; prices may be delayed.
Gold Futures Trading Basics
Consumers and producers of gold can manage gold price risk by purchasing and selling gold futures. Gold producers can employ a short hedge to lock in a selling price for the gold they produce while businesses that require gold can utilize a long hedge to secure a purchase price for the commodity they need.
Gold futures are also traded by speculators who assume the price risk that hedgers try to avoid in return for a chance to profit from favorable gold price movement. Speculators buy gold futures when they believe that gold prices will go up. Conversely, they will sell gold futures when they think that gold prices will fall.
Learn More About Gold Futures & Options Trading
Content reviewed:
References: CME hedge mechanics and basis; CME futures/options hedging guide. Contract-specific resources appear on the linked market page.