{"slug":"micro-gold-futures-vs-gld","qid":"mgc_contract_math","label":"What one Micro Gold (MGC) contract controls at different gold prices","post_title":"Micro Gold Futures vs GLD: Size, Tax, Cost","post_url":"/blog/micro-gold-futures-vs-gld#q-mgc_contract_math","columns":["gold_price_per_oz","mgc_notional_usd","gc_notional_usd","mgc_notional_label","one_pct_move_label","gld_share_equivalent"],"rows":[{"gold_price_per_oz":"$3,200","mgc_notional_usd":32000,"gc_notional_usd":320000,"mgc_notional_label":"$32,000","one_pct_move_label":"$320","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$3,600","mgc_notional_usd":36000,"gc_notional_usd":360000,"mgc_notional_label":"$36,000","one_pct_move_label":"$360","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$4,000","mgc_notional_usd":40000,"gc_notional_usd":400000,"mgc_notional_label":"$40,000","one_pct_move_label":"$400","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$4,400","mgc_notional_usd":44000,"gc_notional_usd":440000,"mgc_notional_label":"$44,000","one_pct_move_label":"$440","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$4,800","mgc_notional_usd":48000,"gc_notional_usd":480000,"mgc_notional_label":"$48,000","one_pct_move_label":"$480","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$5,200","mgc_notional_usd":52000,"gc_notional_usd":520000,"mgc_notional_label":"$52,000","one_pct_move_label":"$520","gld_share_equivalent":"109 GLD shares"},{"gold_price_per_oz":"$5,600","mgc_notional_usd":56000,"gc_notional_usd":560000,"mgc_notional_label":"$56,000","one_pct_move_label":"$560","gld_share_equivalent":"109 GLD shares"}],"shape":"table","sql":"SELECT\n    concat('$', substring(toString(price_per_oz), 1, 1), ',', substring(toString(price_per_oz), 2, 3)) AS gold_price_per_oz,\n    price_per_oz * 10                                              AS mgc_notional_usd,\n    price_per_oz * 100                                             AS gc_notional_usd,\n    concat('$', toString(intDiv(price_per_oz * 10, 1000)), ',000') AS mgc_notional_label,\n    concat('$', toString(intDiv(price_per_oz, 10)))                AS one_pct_move_label,\n    concat(toString(toUInt16(round(10 / 0.0918))), ' GLD shares')  AS gld_share_equivalent\nFROM\n(\n    SELECT 3200 + (400 * arrayJoin(range(7))) AS price_per_oz\n)\nORDER BY price_per_oz","computed_at":"2026-10-04T15:21:19.498331+00:00","elapsed":0.01996723}