Gold futures are standardized contracts traded on exchanges like the COMEX (a division of the CME Group) that obligate the buyer to purchase, and the seller to deliver, a specified amount of gold (usually 100 troy ounces) at a predetermined price and date in the future. These contracts are widely used by investors, traders, and institutions to speculate on gold prices, hedge against inflation or currency risk, or gain exposure to the gold market without holding physical bullion. Gold futures offer benefits like high liquidity, leverage, and nearly 24-hour trading access, making them a popular tool for managing portfolio risk or profiting from price volatility in the global commodities market.