In commodities market terminology, miNY Gold refers to gold futures contracts that are half the size of normal COMEX gold futures. Gold is a valuable precious metal used for wealth storage, for jewelry and as an inflation hedge.
miNY Gold futures trade electronically on the Chicago Mercantile Exchange’s Globex electronic trading platform. miNY Gold futures contracts are for 50 troy ounces of gold and are quoted in U.S. Dollars with a minimum fluctuation of $0.25 or $12.50 per contract. The contract is based on the COMEX gold futures contract and is subject to the rules and regulations of the COMEX. The trading symbol for miNY Gold is QO.