(Trading symbol GC) - A precious metal traded on the spot and futures market. On NYMEX a contract unit of gold equals 100 troy ounces. One tick in the price of gold is $.10 per troy ounce, or $10 per contract. There are exceptions, but in general, the exchange will call a halt to trading if the price of gold fluctuates more than $75 per troy ounce ($7500 per contract) above or below the previous day's Closing Price. maximum daily price fluctuations are lifted during the final 20 minutes of the trading day. See minimum price movement.
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