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How to Trade Gold Futures: A Plain English Guide

Gold futures and XAUUSD both follow the gold price, but they work very differently. Here is what beginners should know.

🗓 Updated ⏱ 2 min read✅ 100% free

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Trading involves risk and you can lose money. Results vary.

Gold futures are contracts traded on the COMEX exchange. The full contract (GC) controls 100 ounces and the micro contract (MGC) controls 10 ounces. You need a futures broker, margin for each contract, and you must close or roll before expiry. Many beginners start with spot gold (XAUUSD) instead because it allows smaller sizes. Trading gold carries high risk and most traders lose money.

1Gold futures contracts

  1. GC: 100 oz, $10 per $0.10 tick
  2. MGC (micro): 10 oz, $1 per $0.10 tick
  3. Traded on COMEX almost 24 hours a day, Sunday to Friday
  4. Contracts expire, so traders roll to the next month

2Futures or XAUUSD?

XAUUSD is easier for small accounts.

With a forex or CFD broker you can trade 0.01 lots, which is 1 ounce, and there is no expiry. Futures are centrally cleared and popular with prop firms but need more margin.

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3How to start

  1. Learn the basics on a demo account
  2. Pick futures (GC or MGC) or spot (XAUUSD)
  3. Open the right type of broker account
  4. Set a stop loss on every trade
  5. Follow a tested plan, not hunches

4Learn gold with coaches

One market, one method.

Our partner gold academy trades gold only and gives free courses, live signals and weekly sessions with a funded broker account.

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Questions people ask

How much do you need to trade micro gold futures?

Margin varies by broker, often a few hundred dollars per contract.

Can you trade gold futures at night?

Yes, COMEX gold trades nearly around the clock on weekdays.

Are futures better than spot gold?

Neither is better. Spot suits small accounts, futures suit prop firm traders.

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