Give detailed description of contract sizes of Gold Commex, Silver Commex and DINR?
Here’s a comprehensive, in-depth breakdown of COMEX (CME) futures for gold and silver—and a detailed overview of the DINR contract traded on DGCX:
1. ๐ฅ COMEX Gold Futures (CME Group)
๐ฆ Contract Types & Sizes
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Standard Gold (GC)
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Represents 100 troy ounces of gold bullion, minimum .995 purity
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E‑mini Gold (QO)
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50 troy ounces (half the standard size)
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E‑micro Gold (MGC)
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10 troy ounces
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1‑Ounce Gold (1OZ)
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1 troy ounce—recently introduced (March 2025), with ~$115 margin and $0.25 tick
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⏱️ Tick Sizes & Values
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GC: Tick = $0.10 per oz → $10/contract
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QO: Tick = $0.25 per oz → $12.50/contract
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MGC: Tick = $0.10 per oz → $1/contract
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1OZ: Tick = $0.25 per oz → $0.25/contract
๐ต Contract Value & Margin
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Notional value for GC = 100 oz × spot price (e.g., at $1,700/oz = $170,000) .
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Margins: GC initial ≈ $4,400, maintenance ≈ $4,000; QO initial ~ $2,200, MGC initial ≈ $440 .
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Trading hours: Almost 24/5 via CME Globex, with 60‑minute daily maintenance window
๐ Expirations & Delivery
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Delivery months: Standard GC uses Feb, Apr, Jun, Aug, Oct, Dec cycle .
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Physical delivery required—100 oz bars or equivalent kilo bars accepted.
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New “Enhanced Delivery” (4GC) adds flexibility via multiple bar sizes (100 oz, 1 kg, 400 oz)
2. ๐ฅ COMEX Silver Futures (CME Group)
๐ฆ Contract Types & Sizes
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Standard Silver (SI)
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5,000 troy ounces
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E‑mini Silver (6Q)
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2,500 troy ounces
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Micro Silver (SIL)
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1,000 troy ounces
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⏱️ Tick Sizes & Values
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SI: Tick = $0.005 per oz → $25/contract
6Q: Tick = $0.005 per oz on 1,000 oz? Actually 2,500 oz × $0.005 = $12.50, but sources vary—common tick = $0.005/oz → $12.50 .
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Micro: 1,000 oz × $0.005 = $5 .
3. ๐ฑ DINR Futures (DGCX – Dubai Gold & Commodities Exchange)
The DINR contract is a currency futures contract—not a metal—traded on DGCX, based in Dubai. It tracks USD/INR (U.S. dollar vs Indian rupee):
๐น Contract Specs :
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Contract Unit: INR 2,000,000
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Notional Value: USD‑settled equivalent of INR 2 million
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Tick Size: $0.01 per 100 INR → $2/tick
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Settlement: Cash‑settled in USD at RBI reference rate
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Trading Hours: 07:00 – 23:55 Dubai time (~IST 08:30–01:25 next day)
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Expiry: Monthly, with last trading day 2 business days before month-end.
4. ๐ Why Multiple Sizes Exist
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Risk control & accessibility
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Standard GC/SI are ideal for institutional traders; smaller sizes empower retail and hedgers .
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Liquidity & price discovery
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GC leads in volume (≈250k/day), while minis/micros serve niche volume-based needs .
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Pricing granularity
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Finer ticks and lower margin allow precision in strategy and risk management.
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5. ๐ Summary Table
Instrument | Symbol(s) | Unit Size | Tick Size/Value | Notional Value Example | Margin (approx) |
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Gold – Standard | GC | 100 oz | $0.10 = $10 | ~$170k (at $1,700/oz) | $4.4k init, $4k maint |
Gold – E‑mini | QO | 50 oz | $0.25 = $12.50 | ~$85k | $2.2k init |
Gold – E‑micro | MGC | 10 oz | $0.10 = $1 | ~$17k | $440 init |
Gold – 1 oz | 1OZ | 1 oz | $0.25 = $0.25 | ~$1.7k | ~$115 init |
Silver – Standard | SI | 5,000 oz | $0.005 = $25 | ~$50k (at $10/oz) | varies |
Silver – E‑mini | 6Q | 2,500 oz | $0.005 = ~$12.50 | ~$25k | varies |
Silver – Micro | SIL | 1,000 oz | $0.005 = $5 | ~$10k | varies |
Currency – INR/USD | DINR | INR 2,000,000 | $0.01/100 INR = $2 | INR 2,000,000 equivalent | set by DGCX |
6. ⚙️ Trading & Risk Considerations
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Margins: Determined by CME/DGCX but can vary by broker and market volatility.
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Delivery: Gold/silver contracts offer physical delivery; DINR is cash‑settled.
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Tick exposure: Granularity varies—from $0.25 swings on 1‑oz gold to $10 per tick on GC.
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Liquidity: Larger contracts = deeper liquidity; micros aid smaller-scale traders.
Wrap-Up
COMEX offers a layered structure—from institutional-grade 100‑oz standard contracts down to 1‑oz micro futures—each balancing risk, access, and precision. Silver follows a similar multi‑tiered logic. The DINR contract provides offshore hedging on INR via DGCX, using a large base size with fine USD ticks.
If you'd like, I can dig into margin schedules, expiry calendars, or even global analogs like MCX India, SGX, or LME. Just say the word!
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