Gold Futures Order Flow Basics
Before reading order flow in gold, it helps to know exactly what instrument you are looking at.
The contracts
| GC | MGC | |
|---|---|---|
| Name | COMEX Gold Futures | COMEX Micro Gold Futures |
| Size | 100 troy ounces | 10 troy ounces |
| Tick | 0.10 | 0.10 |
| Tick value | $10 | $1 |
One GC contract is ten times the size of one MGC contract. When you compare volume or set big-trade thresholds, adjust for that difference.
Trading hours
Gold futures trade on CME Globex from Sunday to Friday, roughly 17:00 to 16:00 Chicago time, with a daily break. VISION CHART uses that 17:00 Chicago start for sessions, session VWAP and session delta.
Contract months and rollover
Gold futures expire. The most actively traded months are usually February, April, June, August, October and December. As a contract approaches expiry, activity moves to the next one — the roll.
VISION CHART's contract calendar shows for each active contract:
- Last trading day — third-last business day of the contract month;
- First notice day — last business day of the month before;
- Suggested roll date — two business days before first notice day (an analysis convention, not an exchange rule).
The calendar counts weekends only; exchange holidays are not modelled.
Why the contract matters for order flow
Each contract month has its own order book and its own trades. Mixing two months on one chart without care creates false jumps. Always check the contract symbol (for example GCZ6) displayed in the terminal.
Session timing
The CME Globex gold session runs from 17:00 to 16:00 Chicago time, so the "trading day" for futures starts in the evening of the previous calendar day in the Americas — and in the early morning in India. Session-based studies (session VWAP, session delta, session volume profile) reset at that 17:00 boundary. VISION CHART converts all times to the time zone you choose in Settings.
Ticks and value
With a tick of 0.10:
- A 1.00 move in GC = 10 ticks × $10 = $100 per contract.
- The same move in MGC = 10 ticks × $1 = $10 per contract.
When you read footprint numbers, remember that one GC contract carries ten times the exposure of one MGC contract.
Data you need for gold order flow
- CME Globex trades for the contract you analyse, with aggressor side.
- Level 2 depth (Market-by-Price), and optionally Market-by-Order.
- Contract metadata (months, expiries) to handle rolls.
VISION CHART's architecture is ready for such a feed; until one is connected it shows DATA SOURCE NOT CONNECTED.
Key takeaways
- GC = 100 oz, MGC = 10 oz, both tick 0.10.
- Sessions start at 17:00 Chicago time.
- Futures roll between contract months; know which contract you are analysing.
Next article: CME Gold Futures vs XAUUSD
Educational content only, not financial advice. Examples and illustrations use sample numbers and are not observations of real market activity. Order flow describes past and present activity; it does not predict prices.
