XAUUSD Pip Calculator
Pip value, lot size and profit or loss for gold. One standard lot is 100 ounces, and the default pip is a price move of 0.01.
Pip value inputs
Pip value results
Lot size from risk
Lot size inputs
How far the gold price can move against you before the stop is hit. Five dollars means a stop five dollars away from entry.
Lot size results
Profit or loss between two prices
Profit inputs
Profit results
Gold and silver pip value by lot size
Both metals are quoted in USD, so the pip value below does not move with the market. It changes only when the lot size changes, or when a different pip definition is used.
| Instrument | Contract size | Pip size | Standard (1.0) | Mini (0.1) | Micro (0.01) |
|---|---|---|---|---|---|
| XAUUSD (gold) | 100 oz | 0.01 | 1.00 USD | 0.10 USD | 0.01 USD |
| XAUUSD (gold) | 100 oz | 0.10 | 10.00 USD | 1.00 USD | 0.10 USD |
| XAGUSD (silver) | 5,000 oz | 0.01 | 50.00 USD | 5.00 USD | 0.50 USD |
Gold and silver do not share a contract size. One standard lot of gold is 100 ounces; one standard lot of silver is 5,000 ounces. A silver position therefore moves about fifty times as much money per pip as a gold position of the same lot size.
Why a gold pip value does not drift with the gold price
On most currency pairs the pip value has to be converted out of the quote currency, and that conversion depends on the rate at that moment. Gold quoted as XAUUSD does not have that step. The quote currency is already the US dollar, so the pip value is a product of two fixed conventions and nothing else:
Pip size × contract size × lot size. With a pip of 0.01, a contract size of 100 ounces and one standard lot, that is 0.01 × 100 × 1 = 1 USD per pip. It is one dollar whether gold trades at 1,800 or 2,400.
This is the part that surprises people who came to gold from currency pairs. A one-dollar move in the gold price is worth 100 USD on a standard lot, and that figure does not change as the price does. What changes is how far a dollar of movement is from your stop, which is what the lot size tool above measures.
The two pip definitions for gold, and how to tell which one you are being quoted
Gold has no single agreed pip. Two definitions are in wide circulation:
- A pip is a move of 0.01 in price. On a standard lot of 100 ounces that is 1 USD per pip. This is the definition used across this site.
- A pip is a move of 0.10 in price. On the same position that is 10 USD per pip.
Neither is a calculation error. They are different definitions of the same word, and a tenfold difference in the answer rides on which one is meant. This matters most when a signal or a trade idea says "target 50 pips on gold" without saying which convention it is counting in — 50 pips is 50 dollars on the first definition and 500 dollars on the second.
To find out which one your broker or signal provider uses, do not look for a label. Run one number instead: take a position size you know, move the price by 1.00, and see what the platform says the position gained or lost. On a standard lot that figure is 100 USD whichever definition is in play, which makes it a neutral reference point. Now read what the same platform calls a pip. If 1.00 of movement is counted as 100 pips, the 0.01 convention is in use. If it is counted as 10 pips, the 0.10 convention is.
The pip definition selector at the top of this page exists for exactly this reason: it lets you match whatever convention you are being quoted, instead of forcing you to convert in your head.
Gold is not a four-decimal pair, and the arithmetic has to know that
A calculator built for EURUSD assumes a pip of 0.0001 and a contract size of 100,000 units. Point it at gold and both assumptions are wrong: gold trades in dollars per ounce with two decimals of convention, and one lot is 100 ounces rather than 100,000 currency units. Running gold through a pair calculator produces a number that looks plausible and is off by a factor that depends on which wrong assumption it made first.
The same trap catches silver in the other direction. XAGUSD carries 5,000 ounces in a standard lot, so a pip of 0.01 is worth 50 USD — fifty times a gold pip at the same lot size. A tool that treats both metals as "100 units per lot" will understate silver by a factor of fifty.
What a stop distance in dollars means for gold
On a currency pair, traders usually measure a stop in pips. On gold it is often more natural to measure it in dollars, because the quote is a dollar price and the move you are risking is a dollar move. The lot size tool above takes the distance in dollars directly, which avoids a conversion step and the chance of applying the wrong pip definition inside it.
The arithmetic: money at risk divided by (stop distance in dollars × 100) gives the number of standard lots, because each dollar of movement is worth 100 USD per standard lot. Risking 100 USD on a five-dollar stop gives 100 ÷ (5 × 100) = 0.2 lots, which is 20 ounces.
That result is a ceiling, not a recommendation. It assumes the stop is the only thing standing between you and the loss, which ignores gaps, slippage and the spread you pay to get in.
Frequently asked questions
What is the pip value of XAUUSD?
One USD per pip on a standard lot of 100 ounces, using the 0.01 definition. It is 0.10 USD on a mini lot and 0.01 USD on a micro lot. If the source you are comparing against uses the 0.10 definition, their figure will be ten times larger on the same position.
How many ounces is one lot of gold?
One hundred ounces for a standard lot, ten for a mini lot and one for a micro lot. Some brokers use different contract sizes for metals, so check the contract specification on your own platform before relying on these figures for live sizing.
How much is a one-dollar move in gold worth?
One hundred USD on a standard lot, ten USD on a mini lot and one USD on a micro lot. That holds whatever the gold price is, because the quote is already in dollars.
Is a gold pip the same as a gold tick?
At the 0.01 definition, the smallest price increment and the pip are the same size, which is why the two words get used interchangeably. One point is a tenth of a pip, the last decimal a broker shows on a three-decimal gold quote.
Why does my broker's pip value differ from this page?
Two things cause it. The pip definition may differ, which is the tenfold one. Or the contract size may differ — not every broker puts 100 ounces in a standard lot of gold. Both inputs are printed on this page so you can see which one is at odds with your platform.
Does leverage change the pip value?
No. Leverage changes the margin a position requires, not what a pip is worth. Pip value comes from the pip size, the contract size and the lot size alone.
The pip calculator covers all 30 instruments, including gold and silver, and reports the pip value in the quote currency before conversion. The lot size calculator sizes a position from a stop distance measured in pips, and the risk reward calculator turns three price levels into the ratio and the break-even win rate.