Gold Pip Calculator: What a Pip Is Worth on XAU/USD
Gold confuses people because brokers do not agree on what a pip is. Set the contract size and decimal convention once, and the rest is arithmetic - including the lot size your stop actually allows.
On a standard 100-ounce XAU/USD contract a $1.00 move is $100 per lot, a $0.10 move is $10 and a $0.01 move is $1. Brokers disagree about which of those they call a pip, so set the convention and contract size to match your platform before sizing. Gold's daily range is wide, so the correct lot size is usually smaller than traders expect.
Gold pip calculator (XAU/USD)
Pip value = pip size × ounces per lot × lots. Lot size = (account × risk%) ÷ (stop in dollars × ounces per lot). Figures are for a USD account and exclude spread and swap.
Why gold is different
XAU/USD is quoted in dollars per troy ounce and a standard contract is usually 100 ounces. Where it gets muddled is the word "pip": some brokers call a $0.01 move one pip, others call $0.10 one pip, and plenty of platforms just display points. The calculator lets you pick, because getting this wrong is a 10x sizing error - and it is the single most common mistake in gold.
With a 100-ounce contract: a $1.00 move is $100 per lot, a $0.10 move is $10, and a $0.01 move is $1.
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Enter your stop in dollars of price movement and the calculator returns the lots that keep your risk where you set it. Because gold's daily range is large compared with most currency pairs, the honest output is often a much smaller lot size than traders expect - that is the tool working, not failing.
What it does not cover
- Your broker's actual contract size. Some offer 10-ounce or 1-ounce contracts; check the specification and set it in the calculator.
- Spread and swap. Gold spreads widen outside the main sessions, and overnight financing is charged separately.
- News. Gold reacts sharply to US data and rate decisions; slippage through a stop is more likely in those minutes.
- Account currency. The figures here are for a USD account.
For the wider picture on the market itself - what moves gold and when it is most active - see gold trading for beginners.
Frequently asked questions
How much is one pip in gold?
It depends on your broker's convention. On a 100-ounce contract, a $0.10 move is $10 per lot and a $0.01 move is $1. Check which one your platform calls a pip.
How do I calculate gold lot size?
Divide the money you are willing to risk by (stop distance in dollars x contract size). The calculator does it for the contract size you set.
Why does my broker show different pip values?
Because contract sizes and decimal conventions differ between brokers. Set both in the calculator to match your platform.
Is gold riskier than forex pairs?
Its daily range is usually much larger, so the same lot size carries far more money at risk. That is why sizing from the stop matters more here, not less.
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