GC is the main venue for gold price discovery. Each contract is 100 ounces, so at $2,400 the notional-value is $240,000. The micro contract (MGC) is 10 ounces.
Gold reacts to real interest rates, the dxy, and risk-on-risk-off flows. Like cl it is physically deliverable and must be rolled.
Example: gold rises $15. That is 150 ticks x $10 = $1,500 per GC contract, or $150 per MGC.
Related: futures-contract, tick-value, dxy, micro-futures