COMEX · Metals · Futures

Micro Gold Futures (MGC)

COMEX Micro Gold (MGC) is one tenth of the Gold future: 10 troy ounces, same prices and expiry dates as GC, traded nearly 24 hours a day.

Live MGC chart on TradingView Affiliate link

COT data as of Sep 22, 2026 · Margins as of Sep 30, 2026 · Roll & expiry dates checked daily

Tick size / value: 0.10 $/oz = $1.00
Point value: $10 / $1
Active contract: MGCZ26 Dec 2026
Next roll: Nov 24 in 56 days
Globex right now: Checking…

Contract specifications

Exchange: Commodity Exchange, Inc. (COMEX, CME Group)
Underlying: Gold (min. 995 fineness)
Contract unit: 10 troy ounces
Minimum tick: $0.10 per troy ounce = $1.00 per contract
Point value: $10.00 per $1.00 per troy ounce · 10 ticks per $1
Price quotation: U.S. dollars and cents per troy ounce
Contract months: Monthly; most active: February, April, June, August, October, December (G, J, M, Q, V, Z)
Settlement: Physical delivery via ACE
Final settlement: Delivery of an Accumulated Certificate of Exchange (ACE) representing 10% of a 100-oz COMEX gold bar
Termination of trading: Trading terminates on the third last business day of the contract month
Globex code: MGC

Contract sizes compared
Symbol	Contract	Per $1	Tick value	Size
MGC	Micro Gold	$10.00	$1.00	This contract
GC	Gold	$100.00	$10.00	10× MGC

Source: CME Group contract specifications · reviewed Sep 30, 2026

Roll dates, first notice & expiration

Contract	Roll date	First notice	Last trading day	Days left
MGCV26 Oct 2026	Fri, Sep 25, 2026	Wed, Sep 30, 2026	Wed, Oct 28, 2026	29
MGCZ26 Dec 2026 Active	Tue, Nov 24, 2026	Mon, Nov 30, 2026	Tue, Dec 29, 2026	91
MGCG27 Feb 2027	Tue, Jan 26, 2027	Fri, Jan 29, 2027	Wed, Feb 24, 2027	148
MGCJ27 Apr 2027	Thu, Mar 25, 2027	Wed, Mar 31, 2027	Wed, Apr 28, 2027	211
MGCM27 Jun 2027	Tue, May 25, 2027	Fri, May 28, 2027	Mon, Jun 28, 2027	272
MGCQ27 Aug 2027	Tue, Jul 27, 2027	Fri, Jul 30, 2027	Fri, Aug 27, 2027	332

Roll. Most traders roll a few days before first notice, when liquidity moves to the next active month. The date shown is three business days before first notice.

First notice day. Last business day of the month before the contract month. Holders of long positions can be assigned delivery from here on – brokers usually require longs to be closed or rolled before this date.

Last trading day. Third last business day of the contract month.

US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15 · Mar 26 · May 31 · Jun 18

Learn more: Futures roll dates explained · First notice day vs. last trading day

Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.

Trading hours (ET / CT)

Session	Eastern (ET)	Central (CT)	Your time
CME Globex (electronic)	Sun–Fri 6:00 p.m. – 5:00 p.m.	Sun–Fri 5:00 p.m. – 4:00 p.m.	–
Daily maintenance break	Mon–Thu 5:00 – 6:00 p.m.	Mon–Thu 4:00 – 5:00 p.m.	–
US day session (reference)	Mon–Fri 8:20 a.m. – 1:30 p.m.	Mon–Fri 7:20 a.m. – 12:30 p.m.	–
Daily settlement	1:30 p.m.	12:30 p.m.	–

Holiday hours differ – check the CME holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).

Margins

CME Group maintenance margin per contract, outright position · as of Sep 30, 2026
Contract	Maintenance
MGCV26 Oct 2026	$2,069
MGCZ26 Dec 2026 Active	$2,085
MGCG27 Feb 2027	$2,102
MGCJ27 Apr 2027	$2,120

Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.

Learn more: Futures margin explained · Micro vs. E-mini futures

COT positioning

CFTC Disaggregated Report, futures only · positions as of Tue, Sep 22, 2026 · released Sep 25, 2026

Positioning shown for the full-size Gold (GC) contract. The CFTC reports MGC separately, but its positions are too small to read on their own. Full GC page.

Producers / Merchants

−26,777 net contracts

+1,284 vs. prior week · −6.5% of OI

COT Index 26 wk 31

COT Index 3 yr 76

Movement (6 wk): +2

Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.

Swap Dealers

−236,126 net contracts

−2,466 vs. prior week · −57.2% of OI

COT Index 26 wk 11

COT Index 3 yr 15

Movement (6 wk): −6

Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.

Managed Money

+127,389 net contracts

−5,727 vs. prior week · +30.9% of OI

COT Index 26 wk 68

COT Index 3 yr 63

Movement (6 wk): −4

Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.

Net positions, last 3 years contracts, long minus short

Producers / MerchantsSwap DealersManaged Money

COT Index, 3-year window 0 = most net short in 3 years, 100 = most net long · shaded: extreme zones

Producers / MerchantsManaged Money

Disaggregated Report · open interest 412,800 (+2,901 w/w)
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Producers / Merchants	17,719	44,496	−26,777	+1,284	+7,781	31	76	+2
Swap Dealers	14,626	250,752	−236,126	−2,466	+8,901	11	15	−6
Managed Money	135,699	8,310	+127,389	−5,727	−17,358	68	63	−4
Other Reportables	118,283	19,819	+98,464	+1,242	−123	100	71	+29
Nonreportables	52,437	15,387	+37,050	+5,667	+799	87	74	+7

Legacy Report · open interest 412,800 (+2,901 w/w) · WILLCO (26 wk, commercials vs. OI): 13
Group	Long	Short	Net	Δ 1 wk	Δ 4 wk	Index 26 wk	Index 3 yr	Move 6 wk
Commercials	57,458	320,361	−262,903	−1,182	+16,682	18	31	−4
Non-Commercials	253,982	28,129	+225,853	−4,485	−17,481	80	63	+3
Nonreportables (small)	52,437	15,387	+37,050	+5,667	+799	87	74	+7

Weekly net positions, last 12 reports (Disaggregated Report)

Report date	Producers / Merchants	Swap Dealers	Managed Money	Other Reportables	Nonreportables	Open interest
Sep 22, 2026	−26,777	−236,126	+127,389	+98,464	+37,050	412,800
Sep 15, 2026	−28,061	−233,660	+133,116	+97,222	+31,383	409,899
Sep 8, 2026	−30,961	−239,313	+134,972	+96,988	+38,314	411,227
Sep 1, 2026	−31,289	−233,429	+136,771	+91,353	+36,594	415,196
Aug 25, 2026	−34,558	−245,027	+144,747	+98,587	+36,251	427,957
Aug 18, 2026	−29,761	−228,657	+141,648	+80,541	+36,229	406,260
Aug 11, 2026	−27,935	−224,705	+137,662	+80,278	+34,700	400,309
Aug 4, 2026	−18,856	−207,635	+130,766	+66,868	+28,857	371,551
Jul 28, 2026	−20,549	−191,760	+119,795	+62,275	+30,239	384,603
Jul 21, 2026	−19,321	−193,878	+124,831	+59,079	+29,289	383,368
Jul 14, 2026	−19,149	−195,639	+120,779	+65,903	+28,106	383,689
Jul 7, 2026	−20,986	−201,296	+116,161	+78,085	+28,036	371,776

Learn more: How to read the COT report · COT overview of all contracts

How to read these numbers

Net position = long minus short contracts (spread positions excluded).
COT Index = where today's net position sits within its range over the window: 100 × (net − min) / (max − min). It is a stochastic, not a percentile. Readings above 80 or below 20 are commonly treated as positioning extremes (after Stephen Briese and Larry Williams).
Movement Index = change of the 3-year COT Index over 6 weeks. Moves of ±40 points mark unusually fast repositioning.
WILLCO (Legacy report) = COT Index of commercials' net position as a share of open interest, 26-week window.
Positions are as of Tuesday and released Friday at 3:30 p.m. ET. COT data shows positioning, not timing – it is context, not a trading signal. Open-interest-based indicators are left out for stock index futures because quarterly expirations distort open interest.

Source: CFTC Public Reporting Environment · contract market code 088691 (GOLD - COMMODITY EXCHANGE INC.)

MGC profit & loss calculator

Learn more: Tick value and point value explained

Before commissions and exchange fees. Prices round to the nearest tick of 0.10.

FAQ

What is the tick value of Micro Gold (MGC)?

One tick is $0.10 per troy ounce, worth $1.00 per contract. A $1.00 move in gold is worth $10. Ten MGC contracts equal one GC contract.

Can Micro Gold be delivered?

Yes – via an Accumulated Certificate of Exchange (ACE) for 10% of a 100-oz bar. Speculators close or roll before first notice, like in GC.