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COMEX CHAPTER 113 / 100 TROY OUNCES / PHYSICAL

COMEX Gold Futures Contract Specifications

Decode GC contract size, tick value, eligible gold, warrants, depositories and last-trading-day rules directly from the exchange rulebook.

GC / COMEX CHAPTER 113

GC is a 100-troy-ounce physical-delivery contract with a $10 minimum tick value

By / Published August 2, 2026 / Reviewed August 2, 2026

COMEX Chapter 113 sets the GC trading unit at 100 troy ounces and the minimum price fluctuation at $0.10 per ounce. Multiplying them gives a $10 minimum tick per contract. Deliverable gold must satisfy exchange fineness, brand, bar, documentation, carrier and depository rules; a futures position is therefore not equivalent to ordering any retail 100-ounce bar.

SPECIFICATION TABLE

Translate the rulebook into operational fields

FieldChapter 113 ruleWhy it matters
Trading unit100 troy ouncesA $1/oz move changes one contract by $100
Minimum tick$0.10 per troy ounce$10 per contract
Minimum fineness995Retail product labels alone do not establish deliverability
Eligible bar formOne 100-oz bar or three 1-kilo barsActual weight and tolerance adjustments can apply
InfrastructureApproved brand, assayer, carrier and depository requirementsHome storage is not the exchange delivery chain
Last trading dayThird last business day of the delivery monthBroker close-out deadlines may be earlier

DELIVERABLE GOLD

Weight, fineness and chain of custody remain separate tests

The rule does not say that every 995-fine bar is deliverable. It also requires an exchange-approved brand and defined documentation. Warrants reference bar serial numbers and approved producers; assay certificates identify fineness, weight and producer; eligible transfers use approved carriers, assayers and depositories.

That distinction matters when comparing futures with retail bullion. A dealer bar can contain the expected gold yet remain outside the exchange warrant system. Conversely, owning a futures position does not mean the customer has title to a particular numbered bar before delivery procedures are completed.

WORKED EXPOSURE

A small quoted move produces a large contract-level change

At an illustrative $4,000 per ounce, one GC contract has $400,000 of notional exposure. A move from $4,000 to $4,025 is $25 per ounce, or $2,500 per contract before commissions and other costs. The same arithmetic applies in reverse to a short position.

This example is not a price forecast or a current quote. It shows why contract size belongs beside every futures price displayed in research or risk reports.

PRIMARY SOURCES & REVIEW BOUNDARY

Contract rules come before marketing summaries

Sources were reviewed August 2, 2026. GoldObserve does not reproduce licensed futures quotes, margin schedules, fee tables or exchange calendars. Verify the current rulebook, exchange notices and your futures commission merchant before using any contract.

GOLD FUTURES RESEARCH PATH

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FREQUENTLY ASKED QUESTIONS

COMEX GC specification questions

What is the standard COMEX gold futures contract size?

COMEX Chapter 113 states a 100-troy-ounce trading unit for GC.

What is one tick worth in GC gold futures?

The minimum price fluctuation is $0.10 per troy ounce. Multiplied by 100 ounces, one minimum tick is $10 per contract.

Does one GC contract always deliver exactly one 100-ounce bar?

The rule allows a 100-troy-ounce bar or three one-kilogram bars and specifies tolerances, fineness, approved brands, documentation and depository requirements. Delivery value must follow the actual warrant and rule procedures.