CME COMEX:GC Gold Futures [TREND]



CME COMEX:GC Gold Futures :
Product Code : CME Globex: GC, CME ClearPort: GC, Clearing: GC, TAS: GCT, TAM: GC7
Contract Unit : 100 troy ounces
Price Quotation : U.S. dollars and cents per troy ounce
Minimum Price Fluctuation : Outright: 0.10 per troy ounce = $10.00
Settlement Method : Deliverable
Trading Hours (CME Globex) : Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. /CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Termination Of Trading : Trading terminates at 12:30 p.m. CT on the third last business day of the contract month.
Listed Contracts : Monthly contracts listed for 3 consecutive months, any Feb, Apr, Aug, Oct in the nearest 23 months and any Jun and Dec in the nearest 72 months.
Grade And Quality : Gold delivered under this contract shall assay to a minimum of 995 fineness.


Spot Gold (XAU/USD) :
Sign of physical gold: Au from Latin 'aurum'. Atomic number 79. Code: XAU. XAU refers to the ISO 4217 standard code for One troy ounce of physical gold. 1 troy ounce (oz t) = 31.1034768 grams. XAU = 99.99 percent pure gold = 24K gold. 24k gold means that all 24 parts in the gold are all pure gold without traces of any other metals. Gold is relatively rare element and is a precious metal that has been used for coinage, jewelry, and other arts throughout recorded history. In the past, a gold standard was often implemented as a monetary policy, but the world gold standard was abandoned for a fiat currency system after 1971. A total of 197,576 tonnes of gold exists above ground, as of 2019. The world consumption of new gold produced is about 50% in jewelry, 40% in investments, and 10% in industry.