XAUUSD is the spot price of one troy ounce of gold quoted in US dollars. If XAUUSD shows 2,400.00, one troy ounce of gold costs 2,400 US dollars.

Why does the gold symbol start with X?

Under the ISO 4217 currency standard, codes for assets that are not issued by a national government begin with X. XAU combines X with AU, the chemical symbol for gold (from the Latin aurum). Silver follows the same rule as XAG.

What is the trading symbol for gold?

It depends on the market. Spot gold against the dollar is XAUUSD. CME gold futures use GC (100 troy ounces) and micro gold futures use MGC (10 troy ounces). Some brokers display spot gold as GOLD.

How much is one lot of XAUUSD?

At most retail brokers one standard lot of XAUUSD equals 100 troy ounces, so a 1 dollar move in price changes the position value by 100 dollars. Contract sizes vary by broker, so confirm the specification before trading.

What is a pip in gold?

There is no single universal definition. Many brokers quote XAUUSD to two decimals and call 0.01 a point and 0.10 a pip, while others use 0.01 as the pip. Measuring risk in dollars per ounce avoids this ambiguity.

Is XAUUSD the same as gold futures?

No. XAUUSD is a spot or CFD quote, while GC and MGC are exchange-traded futures with fixed contract sizes, expiry months and exchange margin. Prices are related but not identical because futures include carry costs.

What Is XAUUSD? Gold Trading Symbol Explained

XAUUSD definition

XAUUSD is a currency-style pair. The first unit (XAU, one troy ounce of gold) is the base; the second (USD) is the quote. A quote of 2,400.50 means one ounce costs 2,400.50 US dollars. When the price rises, gold is gaining against the dollar; when it falls, the dollar is gaining against gold.

Base unit: 1 troy oz = 31.1035 g
Quote: US dollars
Market hours: Near 24 hours, Monday to Friday

Why the gold symbol starts with X

ISO 4217 is the international standard for currency codes. National currencies use the country code plus a letter (USD, GBP, JPY). Assets without an issuing country receive an X prefix. Select each part of the symbol to read its meaning.

X: Non-national asset prefix. ISO 4217 reserves codes beginning with X for supranational units and commodities, such as gold, silver, platinum and the IMF Special Drawing Right (XDR).

Related codes: XAG (silver), XPT (platinum), XPD (palladium).

XAUUSD vs gold futures symbols

Symbol	Instrument	Where	Size
XAUUSD / GOLD	Spot gold or CFD	Brokers (OTC)	Broker defined, often 100 oz per lot
GC	Gold futures	CME COMEX	100 oz
MGC	Micro gold futures	CME COMEX	10 oz
1OZ	1-ounce gold futures	CME COMEX	1 oz

Spot and futures prices move together but differ by a small premium reflecting interest and storage costs. Futures expire on fixed months; spot CFDs roll daily with swap charges. US residents face different access rules, explained in our US gold trading guide.

100, 10 and 1 ounce: avoiding contract confusion

The most common sizing error is assuming a lot means the same thing everywhere. A one dollar move is worth 100 dollars on a standard lot but only 1 dollar on a micro lot. Move the slider to compare.

Price move: $5 per ounce

Value change = ounces × price move. Gold bars represent common broker lots; grey bars are CME futures. Broker specifications vary.

Gold pip value vs forex pips

In EURUSD a pip is the fourth decimal (0.0001). Gold is quoted to two decimals, and brokers disagree on whether 0.01 or 0.10 is a pip. Institutional desks avoid the term and measure distance in dollars per ounce.

Price change	Common label	1 standard lot (100 oz)	1 micro lot (1 oz)
0.01	Point (or pip at some brokers)	$1	$0.01
0.10	Pip at many brokers	$10	$0.10
1.00	One dollar move	$100	$1
10.00	Ten dollar move	$1,000	$10

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Frequently Asked Questions

Educational content only, not financial advice. Contract specifications are illustrative and vary by broker and exchange; confirm with your provider. Trading leveraged gold products carries a high risk of loss.