Gold pip value

Most traders count 10 cents as one pip on gold, worth 10 dollars on a 100 ounce lot; MetaTrader's smallest step is a 1 cent point.

Where one lot is 100 ounces, a one dollar move is 100 US dollars per lot, so a 10 cent pip is 10 dollars and a 1 cent point is 1 dollar. On a 0.10 lot the pip is 1 dollar.

Because the two counts differ by ten, always check which one someone means: 300 pips counted in 10 cents is a 30 dollar move, counted in points it is 3 dollars.

On a micro symbol where one lot is 1 ounce, the same 0.10 is a tenth of an ounce, and the same move is worth a hundredth as much. This is the most common sizing mistake on gold.

Also called: how much is a pip on gold, XAUUSD pip value

A definition, not financial advice. Trading carries a risk of loss.