Gold futures are financial contracts that obligate the buyer to purchase, and the seller to sell, a specific amount of gold at a predetermined price on a set future date. These contracts are traded on various exchanges, allowing investors to speculate on the future price of gold without needing to physically own the metal. Investors use gold futures to hedge against price fluctuations or to gain exposure to gold as an asset. The value of these contracts is influenced by factors such as market demand, economic conditions, and geopolitical events, making them a popular choice for traders looking to capitalize on gold price movements.