What's the difference between micro gold (MGC) and spot gold?

Spot gold is the current market price for immediate delivery of physical gold — it has no expiration and no contract size. MGC, the Micro Gold futures contract, tracks that same price but wraps it in a standardized, exchange-traded agreement.

Contract size and no physical delivery

One MGC contract represents 10 troy ounces of gold. In a paper trading simulator like Soku Trade, no gold ever changes hands — you're practicing whether the price goes up or down, and your P/L is calculated as $10 for every $1.00 move in the price per ounce.

Futures have expiration dates, spot doesn't

Spot gold prices exist continuously with no contract expiration. Futures contracts like MGC expire on a set schedule and get rolled over or closed before expiration — an extra layer of timing that spot trading and gold ETFs don't require.

Leverage vs. ownership

Buying spot gold (or a gold ETF) means owning the asset outright. Trading MGC futures means controlling a much larger notional position with a smaller amount of margin, which amplifies both gains and losses — a core reason paper trading it first matters.

Why practice with MGC first

Soku Trade lets you paper trade MGC with live prices and see exactly how those swings translate into dollars, before ever risking real capital on the leverage futures provide.