A gold contract is a standardized agreement between two parties to buy or sell a specific amount of gold at a predetermined price and date in the future. Gold contracts are traded on futures exchanges, where investors can buy and sell them as a way of investing in gold. Futures contracts are often used by traders and investors to hedge against price fluctuations or to speculate on the future price of gold. Gold contracts typically specify the size of the contract, the quality of the gold, the delivery date, and the delivery location.