Gold Contract & Unit Converter
Convert XAUUSD lots, COMEX gold and micro gold futures contracts, ounces, grams and kilos, with the notional value and the dollar value of a $1 move at the live price.
- Value of a $0.10 move
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- Value of a $1 move
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- Value of a $10 move
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- Value of a 1% move
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| Spot XAUUSD lots | — |
|---|---|
| COMEX gold futures (GC) | — |
| COMEX micro gold (MGC) | — |
| Troy ounces | — |
| Grams | — |
| Kilograms | — |
Margin depends on your broker or clearing firm: estimate it with the gold margin calculator.
Contract and unit reference
| Instrument / unit | Troy ounces | $ per $1 move | Minimum tick |
|---|---|---|---|
| COMEX gold futures (GC), 1 contract | 100 | $100 | $0.10 = $10.00 |
| COMEX micro gold futures (MGC), 1 contract | 10 | $10 | $0.10 = $1.00 |
| Spot XAUUSD, 1 standard lot (most platforms) | 100 | $100 | set by the platform |
| Spot XAUUSD, 0.10 lot | 10 | $10 | — |
| Spot XAUUSD, 0.01 lot | 1 | $1 | — |
| 1 kilogram | 32.1507466 | $32.15 | — |
| 1 gram | 0.0321507 | $0.032 | — |
Exact factors: 1 troy ounce = 31.1034768 grams; 1 kilogram = 1,000 ÷ 31.1034768 = 32.1507466 troy ounces. Futures sizes and ticks: CME Group gold and micro gold futures fact cards. Spot lot sizes vary by platform, so the converter lets you change it.
How to convert gold lots, contracts and ounces
Everything in gold comes back to troy ounces. On most trading platforms one standard XAUUSD lot is 100 troy ounces, so 0.01 lot is 1 ounce and every $1 move in the gold price changes its value by $1. A COMEX gold futures contract (GC) is also 100 ounces, and the micro gold contract (MGC) is 10 ounces. So 1 standard lot ≈ 1 GC contract ≈ 10 MGC contracts in size, and a $1 move is worth about $100 on each.
Type a size and pick its unit; the converter shows the total ounces, the notional value at the live price, the dollar value of a $0.10, $1 and $10 move and of a 1% move, and the same size expressed in every other unit.
Why lot sizes differ between platforms
"Lot" is not an exchange unit for spot gold. Most platforms use 100 ounces, but some define 1 lot of gold as 1 ounce, 10 ounces or another size, especially on cent or micro accounts. Before you size a trade, check the contract specification in your platform (often called contract size). Then set it in the converter. If you size by risk instead of by lots, the position size calculator does the maths from your stop.
Futures vs spot: what really differs
- Size: GC is fixed at 100 oz, MGC at 10 oz; spot lots can usually be traded in 0.01 steps (1 oz).
- Price: futures trade at a premium to spot that reflects interest rates until delivery (the basis), so the two prices differ by a few dollars. Read spot gold vs gold futures.
- Costs and margin: futures have exchange fees and exchange-set margin; spot products have spreads, commissions and overnight swaps. See the swap calculator and margin calculator.
- Ticks: both futures contracts move in $0.10 steps, worth $10 on GC and $1 on MGC.
More detail: how much is 1 lot of gold and gold futures vs micro gold futures.
Frequently asked questions
How many ounces is 1 lot of gold?
On most platforms 1 standard lot of XAUUSD is 100 troy ounces, so 0.1 lot is 10 ounces and 0.01 lot is 1 ounce. Some platforms use other sizes, so check your contract specification.
How big is a COMEX gold futures contract?
The standard COMEX gold futures contract (GC) is 100 troy ounces with a minimum tick of $0.10, worth $10 per contract. The micro gold contract (MGC) is 10 troy ounces, with a $0.10 tick worth $1.
Is 1 lot of XAUUSD the same as 1 gold futures contract?
In size, usually yes: both are 100 ounces on most platforms, so a $1 move is worth about $100. The prices differ slightly (the futures basis), and costs, margin and trading hours differ.
How many micro gold contracts equal one lot?
Ten. Each micro contract is 10 ounces, so ten of them make 100 ounces, the size of a standard lot on most platforms.
How many grams are in a troy ounce?
Exactly 31.1034768 grams. A kilogram is about 32.15 troy ounces.
What is a $1 move worth on 0.01 lot of gold?
$1, if your platform uses 100-ounce lots, because 0.01 lot is 1 ounce.
Educational tool only. Not financial advice and not a signal. Check your own broker's contract specification, margin rules and costs. Past data does not predict future prices. See our risk disclaimer.