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Gold Futures (GC=F)

Futures · Currency in USD · Last updated Jun 13, 2026

Gold futures are standardized COMEX futures contracts on gold traded through CME Group venues. The standard GC contract represents 100 troy ounces of gold, is quoted in U.S. dollars per troy ounce, and is widely used for gold price discovery, hedging, and speculation.

Share Price Chart

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Gold Futures

Often compared with GC=F:
GC=F vs. XAUUSD=XGC=F vs. GOLDGC=F vs. ^GSPCGC=F vs. SI=FGC=F vs. HG=FGC=F vs. UUPGC=F vs. BZ=FGC=F vs. GLLGC=F vs. JNUGGC=F vs. PHYS

Performance

GC=F Performance Chart

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S&P 500 Index

Returns By Period

Gold Futures

1D
—
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

Benchmark (S&P 500 Index)

1D
0.50%
1M
-0.93%
YTD
8.56%
6M
8.85%
1Y
24.33%
3Y*
19.37%
5Y*
11.84%
10Y*
13.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

GC=F Monthly Returns History

JanFebMarAprMayJunJulAugSepOctNovDecTotal
2022-0.07%6.09%1.87%-2.00%5.84%

Return for Risk

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for Gold Futures (GC=F) and compare them to S&P 500 Index.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

GC=FBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

—

1.86

—

Sortino ratioReturn per unit of downside risk

—

2.53

—

Omega ratioGain probability vs. loss probability

—

1.34

—

Calmar ratioReturn relative to maximum drawdown

—

2.53

—

Martin ratioReturn relative to average drawdown

—

11.37

—

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the Gold Futures. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Gold Futures was 8.04%, occurring on Apr 27, 2022. The portfolio has not yet recovered.

Related event

Drawdown

Fall

Recovery

Underwater

Bear market2022
-8.04%Apr 2022
1mo 19d—
4y 3moMar 2022 - now
Bear market2022
-1.20%Feb 2022
1d4d
5dFeb 2022 - Mar 2022
Bear market2022
-1.04%Feb 2022
0s2d
2dFeb 2022 - Feb 2022
Bear market2022
-0.58%Mar 2022
0s2d
2dMar 2022 - Mar 2022
Bear market2022
-0.39%Feb 2022
0s1d
1dFeb 2022 - Feb 2022

Drawdown Indicators

GC=FBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

—

-56.78%

—

Max Drawdown (1Y)

Largest decline over 1 year

—

-9.10%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-18.90%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-25.43%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.92%

—

Current Drawdown

Current decline from peak

—

-2.34%

—

Average Drawdown

Average peak-to-trough decline

—

-10.72%

—

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

2.02%

—

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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Portfolio Analyzer

Build a portfolio with GC=F

Add Gold Futures to a portfolio and analyze allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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