GOLD futures contract?

[Pento]

Is there a gold futures contract? Traded on CBOT, CBOE, Liffe etc??

Some info about it appreciated. Product code, minimum tick value, trading hours.

 

[Martinghoul]

Yes, there's a gold futures contract. Traded on COMEX. GC is normally the code, $10 tick value, the electronic trades virtually 24hrs, whereas pit is 1:20PM-6:30PM GMT (I think).

 

[Pento]

Cheers Martinghoul.

So pit is only open 5 hours a day? I knew I should have become a pit trader.

How many ticks in a dollar? I'm assuming it's the standard 100. Will load it up on my screen to check the action.

 

[Martinghoul]

Nah, tick size is 0.1, so it's 10 ticks in a pt.

 

[Pento]

So if the gold price moves from $1247 to $1248 it has moved 10 ticks? and if you had 1 lot on you would have made $100? Is that correct?

 

[Martinghoul]

Yes, correct... 1pt = $100

 

[Pento]

Thanks martinghoul