Definition
Futures contracts for 100 troy ounces of gold, traded on COMEX, the Commodity Exchange, which is part of CME Group.
The story
One GC contract covers 100 ounces of gold. At around $4,100 an ounce, that's about $410,000 of gold in a single contract. It's the most-watched gold price during US trading hours.
Why markets watch it
It's where much of the US gold market's price discovery happens.
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