A "tick" refers to the smallest possible price change in a market.
Defining the "tick" for Gold, Silver, and Copper charts based on current prices:
For Gold, Silver, and Copper charts, it is important to distinguish between two concepts:
Tick Size: The smallest permitted price change within a trading contract.
Current Price: The prevailing market price, which is subject to constant change.
Important Note: The tick size does not change as the price of Gold, Silver, or Copper fluctuates; rather, it is determined by the specific contract type and the trading market.
To apply the Gann method, one must determine the value of a single tick (in terms of price units) and then multiply it by the relevant ratio—such as 1×1, 2×1, or 8×1.
Gold (GC)
$4,074.90
USD per troy ounce
One tick = $0.10
Silver (SI)
$51.97
USD per troy ounce; last observed price on November 6
One tick = $0.005