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. 🥇 COMEX Gold Futures (CME Group)

📦 Contract Types & Sizes

  • Standard Gold (GC)

    • Represents 100 troy ounces of gold bullion, minimum .995 purity 

  • E‑mini Gold (QO)

    • 50 troy ounces (half the standard size) 

  • E‑micro Gold (MGC)

    • 10 troy ounces 

  • 1‑Ounce Gold (1OZ)

    • 1 troy ounce—recently introduced (March 2025), with ~$115 margin and $0.25 tick 

⏱️ Tick Sizes & Values

  • GC: Tick = $0.10 per oz → $10/contract 

  • QO: Tick = $0.25 per oz → $12.50/contract 

  • MGC: Tick = $0.10 per oz → $1/contract 

  • 1OZ: Tick = $0.25 per oz → $0.25/contract 

💵 Contract Value & Margin

  • Notional value for GC = 100 oz × spot price (e.g., at $1,700/oz = $170,000) .

  • Margins: GC initial ≈ $4,400, maintenance ≈ $4,000; QO initial ~ $2,200, MGC initial ≈ $440 .

  • Trading hours: Almost 24/5 via CME Globex, with 60‑minute daily maintenance window 

📅 Expirations & Delivery

  • Delivery months: Standard GC uses Feb, Apr, Jun, Aug, Oct, Dec cycle .

  • Physical delivery required—100 oz bars or equivalent kilo bars accepted.

  • New “Enhanced Delivery” (4GC) adds flexibility via multiple bar sizes (100 oz, 1 kg, 400 oz) 

2. 🥈 COMEX Silver Futures (CME Group)

📦 Contract Types & Sizes

  • Standard Silver (SI)

    • 5,000 troy ounces 

  • E‑mini Silver (6Q)

    • 2,500 troy ounces 

  • Micro Silver (SIL)

    • 1,000 troy ounces 

⏱️ Tick Sizes & Values

  • 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 .

  • Micro: 1,000 oz × $0.005 = $5 .

3. 💱 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):

🔹 Contract Specs :

  • Contract Unit: INR 2,000,000

  • Notional Value: USD‑settled equivalent of INR 2 million

  • Tick Size: $0.01 per 100 INR → $2/tick

  • Settlement: Cash‑settled in USD at RBI reference rate

  • Trading Hours: 07:00 – 23:55 Dubai time (~IST 08:30–01:25 next day)

  • Expiry: Monthly, with last trading day 2 business days before month-end.

4. 📚 Why Multiple Sizes Exist

  • Risk control & accessibility

    • Standard GC/SI are ideal for institutional traders; smaller sizes empower retail and hedgers .

  • Liquidity & price discovery

    • GC leads in volume (≈250k/day), while minis/micros serve niche volume-based needs .

  • Pricing granularity

    • Finer ticks and lower margin allow precision in strategy and risk management.

5. 📊 Summary Table

InstrumentSymbol(s)Unit SizeTick Size/ValueNotional Value ExampleMargin (approx)
Gold – StandardGC100 oz$0.10 = $10~$170k (at $1,700/oz)$4.4k init, $4k maint
Gold – E‑miniQO50 oz$0.25 = $12.50~$85k$2.2k init
Gold – E‑microMGC10 oz$0.10 = $1~$17k$440 init
Gold – 1 oz1OZ1 oz$0.25 = $0.25~$1.7k~$115 init
Silver – StandardSI5,000 oz$0.005 = $25~$50k (at $10/oz)varies
Silver – E‑mini6Q2,500 oz$0.005 = ~$12.50~$25kvaries
Silver – MicroSIL1,000 oz$0.005 = $5~$10kvaries
Currency – INR/USDDINRINR 2,000,000$0.01/100 INR = $2INR 2,000,000 equivalentset by DGCX

6. ⚙️ Trading & Risk Considerations

  • Margins: Determined by CME/DGCX but can vary by broker and market volatility.

  • Delivery: Gold/silver contracts offer physical delivery; DINR is cash‑settled.

  • Tick exposure: Granularity varies—from $0.25 swings on 1‑oz gold to $10 per tick on GC.

  • 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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