COMEX
Micro Gold (MGC) Tick Value & Contract Specs
Tick value $1.00 per tick — 10 troy ounces of gold.
Ten ounces of gold per contract: Micro Gold (MGC) is the one-tenth-scale version of COMEX GC, built for traders who want gold futures exposure without $100-per-dollar swings. The tick is the same $0.10 increment in the quoted price, but each tick is worth $1.00 and a full dollar move in gold is $10 per contract. A $30 gold rally that moves GC by $3,000 moves MGC by $300.
MGC has become one of the most actively traded micro contracts, and liquidity during US and Asian hours is deep enough for retail execution. It shines in three situations: sizing gold positions to a precise dollar risk, averaging into a longer-term metal position in small increments, and trading gold's news-driven spikes with stops a small account can genuinely honour. The specs table below has the exact figures, and the calculator underneath is pre-filled with MGC's multiplier and tick size for instant P&L math.
- Exchange
- COMEX
- Contract size
- 10 troy ounces of gold
- Tick size
- 0.1
- Tick value
- $1.00
- Point value (multiplier)
- $10
- Trading hours
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET
- Margin
- Margin is roughly one-tenth of full-size GC and varies by broker with gold volatility.
How MGC tick value works
Tick value is the dollar amount one futures contract gains or loses when the price moves one minimum increment (one tick).
tick value = tick size × multiplier. For MGC, that is 0.1 × $10 = $1.00 per tick, per contract.
One contract represents 10 troy ounces of gold. P&L for a move from entry to exit is (exit − entry) ÷ tick size × tick value × contracts.
MGC contract months and ticker symbols
A futures ticker is three parts: the root, a one-letter delivery month, and the year. MGCZ2026 is the December 2026 MGC contract. The month letters skip I and L, which would read as 1 and 7 on a ticker.
| Code | Month | Listed for MGC? |
|---|---|---|
| F | January | No |
| G | February | Yes — MGCG |
| H | March | No |
| J | April | Yes — MGCJ |
| K | May | No |
| M | June | Yes — MGCM |
| N | July | No |
| Q | August | Yes — MGCQ |
| U | September | No |
| V | October | Yes — MGCV |
| X | November | No |
| Z | December | Yes — MGCZ |
Which MGC contract am I looking at?
Most charts default to the continuous front-month series rather than a dated contract — one stitched-together chart that rolls to the next month as the current one nears expiry. Every platform spells it differently, which is why the same contract appears under so many names.
| Written as | Platform | Meaning |
|---|---|---|
| MGC1! | TradingView | Continuous front-month contract. "2!" is the next one out, and a dated contract is written in full, e.g. MGCZ2026. |
| MGC00 | Barchart | Continuous front-month series. "MGCZ26" style codes name a specific month and year instead. |
| MGCc1 | Refinitiv / Reuters | Continuous front month; c2 is the second month out. |
| /MGC | thinkorswim, tastytrade | The leading slash marks it as a future rather than a stock. A specific month is /MGCZ26. |
| MGC=F | Yahoo Finance | The "=F" suffix denotes the front-month futures series. |
| $MGC | StockTwits, social | A cashtag, not an exchange symbol. It usually means the front month, but it is informal and ambiguous. |
A dated code such as MGCZ26 always means one specific contract; the continuous forms never do. Check which you are quoting before comparing a price to someone else’s — around a roll they differ.
Frequently asked questions
- What is the tick value for MGC?
- $1.00 per tick — a 0.1 tick size × a $10 multiplier (point value).
- What is one MGC contract worth?
- One contract represents 10 troy ounces of gold. Notional value = price × $10; use the tick value calculator with the current price for an exact figure.
- Which exchange lists MGC?
- Micro Gold (MGC) trades on the COMEX.
- What are the trading hours for MGC?
- Sun–Fri 6:00pm–5:00pm ET, with a daily trading halt 5:00pm–6:00pm ET.
- How much margin do I need to trade MGC?
- Margin is roughly one-tenth of full-size GC and varies by broker with gold volatility.
- What are the MGC contract months?
- MGC lists February, April, June, August, October and December.
- What does MGCZ2026 mean?
- It is one specific MGC contract: the root MGC, the delivery-month code Z, and the year. Z is December, so MGCZ2026 is the December 2026 contract. The codes run F G H J K M N Q U V X Z for January through December — I and L are skipped because they read as 1 and 7 on a ticker.
- What is MGC00, MGC1! or /MGC?
- All three name the same thing: the continuous front-month MGC contract, written differently by different platforms. Barchart uses MGC00, TradingView MGC1!, thinkorswim and tastytrade /MGC, Yahoo Finance MGC=F, and MGC on social media is usually written $MGC. None of them is a separate instrument — each stitches together whichever dated contract is currently the front month.
- How is P&L calculated for MGC?
- P&L = (exit price − entry price) ÷ 0.1 tick size × $1.00 tick value × number of contracts. Use the tick value calculator to compute this directly.
More futures contract specs
- GC — GoldTick value $10.00 · COMEX
- SI — SilverTick value $25.00 · COMEX
- HG — CopperTick value $12.50 · COMEX
- PL — PlatinumTick value $5.00 · NYMEX
See all futures contract specs or use the futures contract & tick value calculator with any symbol or custom specs.
Specs last reviewed 2026-09-06. Exchanges can amend contract specs — always confirm against the exchange or your broker before trading.