1-Ounce Gold Futures Contract Specifications (1OZ)
Metal futures are quoted per troy ounce or per pound and settle physically. The contract is a fixed weight, so the dollar value of a tick follows directly from the weight and the quote increment.
Specifications
| Contract unit | 1 troy ounce |
| Exchange | COMEX/CME |
| Symbol | 1OZ |
| Tick size | 0.25/$0.25 |
| Tick value | $0.25 |
| Point value | $1 |
| Delivery months | G,J,M,Q,V,Z |
| Sector | Metals |
| Quote currency | $ |
Margin is not listed here on purpose — the exchange revises it and every broker adds its own buffer. Check your broker's platform for the live figure. Use the margin calculator to estimate what a position will tie up.
Doing the tick math
One tick is 0.25/$0.25 in the quoted price, which is $0.25 per contract. A move of one full point (1.00 in the quoted price) is worth $1, so there are 4 ticks in a point. Get those two numbers wrong and every risk calculation downstream is wrong, which is the point of the tick value guide.
Enter your own prices in the tick value and P/L calculator to see the dollar result for this contract without doing the arithmetic by hand.
Delivery months
G,J,M,Q,V,Z — February, April, June, August, October, December. Liquidity concentrates in the nearest active month; open interest migrates over a few weeks before expiry, which is what the roll mechanics guide walks through.
What one tick is worth at different position sizes
The per-tick figure scales linearly, which is the part most traders get wrong when they add contracts without re-checking risk.
| Position | Value of 1 tick | Value of 10 ticks |
|---|---|---|
| 1 contract | $0.25 | $2.50 |
| 2 contracts | $0.5 | $5 |
| 5 contracts | $1.25 | $12.50 |
| 10 contracts | $2.50 | $25 |
Ten ticks on a 1OZ contract is a move of 0.25/$0.25 × 10 in the quoted price. If you want the P/L for a specific entry and exit rather than a tick multiple, put the prices into the tick value calculator.
Converting your stop into a dollar risk
Stops are set in price terms but risk is booked in dollars. Multiply the stop distance in ticks by the tick value — and then add commission, which is charged per contract per side and is not in the numbers below.
| Stop distance | 1 contract | 5 contracts |
|---|---|---|
| 5 ticks | $1.25 | $6.25 |
| 10 ticks | $2.50 | $12.50 |
| 20 ticks | $5 | $25 |
| 40 ticks | $10 | $50 |
On a 1 troy ounce contract, a 20-tick stop at one contract ties up $5 of risk before costs. At five contracts it is $25. This is why position size should follow the stop, not the other way round — the arithmetic is laid out in choosing a futures contract.
How margin is set on 1-Ounce Gold futures
Margin is not a property of the contract spec — it is a risk parameter the exchange recalculates periodically and that your broker then marks up. Two consequences follow:
- The figure moves when volatility moves, so a margin number copied from a blog post is usually stale.
- Two brokers can require different amounts for the same 1OZ contract.
What is fixed by the spec is the notional exposure: 1 troy ounce multiplied by the price. Margin is a percentage of that notional, which is why a higher price or a wider exchange buffer raises the cash requirement without the contract itself changing. The margin calculator takes your broker's number and converts it into "how many contracts can I hold"; the mechanics are in how futures margin works.
Where these numbers come from
Contract unit, tick size and delivery months are taken from the contract specifications published by COMEX/CME. Exchanges occasionally change tick sizes and listing months, so before relying on this page for a live position, check the current spec sheet on the exchange's own product page or on your broker's platform. This page was last rebuilt on 15 November 2026.
What moves 1-Ounce Gold prices
- Real interest rates — the opportunity cost of holding a non-yielding asset
- The dollar — metals are priced in dollars, so a stronger dollar is a headwind
- Inventories — exchange stocks and warehouse queues signal physical tightness
- Industrial demand — for the industrial metals, cycle-sensitive end use dominates
This is context, not a recommendation. Nothing here tells you which way the market is going.
More metals contracts
- Micro Gold (MGC) — 10 oz, $1 per tick
- 100-Ounce Silver (SIC) — 100 oz, $1 per tick
- Micro Copper (MHG) — 2,500 lbs, $1.25 per tick
- Platinum (PL) — 50 oz, $5 per tick
- Gold (GC) — 100 oz, $10 per tick
- E-micro Silver (SIL) — 1,000 oz, $10 per tick
Full list: all 135 contract specifications. Sizing maths: tick value calculator, margin calculator.
Frequently asked
What is the contract size of 1-Ounce Gold futures?
One 1OZ contract represents 1 troy ounce. Every tick value and point value on this page follows from that quantity.
How much is one tick worth in 1OZ futures?
One tick is a price move of 0.25/$0.25, worth $0.25 per contract. A full point move (1.00 in the quoted price) is worth $1.
Which delivery months does 1OZ trade?
G,J,M,Q,V,Z — February, April, June, August, October, December. The front month carries most of the liquidity and open interest migrates a few weeks before expiry.