What Is XAUUSD? Gold Quote and the XAUTUSD Perpetual

September 21, 2026

6 minutes

Last Updated: November 4, 2026

XAUUSD is the price of one troy ounce of gold in US dollars: XAU is the ISO code for gold and USD the code for the dollar, so a quote of 4,000 means one ounce costs $4,000. On EVEDEX, gold trades as XAUTUSD, a perpetual on Tether Gold open 24/7; forex and CFD brokers offer XAUUSD on weekdays.

This guide explains what the ticker means, where the price comes from, whether XAUUSD counts as forex and how to trade gold through a gold perpetual futures contract (XAUTUSD) on EVEDEX.

Key takeaways

EVEDEX, a venue for multi asset trading, lists gold as XAUTUSD 24/7, with USDT margin and up to 100x leverage, falling as positions grow (EVEDEX data as of November 9, 2026).
XAUUSD is the price of one troy ounce of gold (31.1035 grams) in US dollars.
The LBMA in London sets the reference price twice a day; gold itself trades around the world.
XAUUSD is quoted like a currency pair, so it is usually grouped with forex products; on EVEDEX, EURUSD and USDJPY trade as perpetuals next to gold, so forex and crypto trading share one balance.
At brokers, XAUUSD trades on weekdays and pauses at the weekend.

What is XAUUSD? The ticker explained

The ticker follows the logic of currency pairs: the asset comes first, the currency it is priced in second. XAU is the ISO code for a troy ounce of gold and USD for the US dollar. A quote of 4,000 means one ounce costs 4,000 dollars, and each $0.10 step in that quote usually counts as one of the XAUUSD pips. Buying XAUUSD is a bet that gold rises in dollar terms; selling it is a bet that it falls.

Where does the XAUUSD price come from?

Gold trades over the counter between banks and dealers and on futures exchanges around the world, almost around the clock on weekdays; our guide to gold trading hours lists the sessions. The reference is the LBMA Gold Price, set twice a day in London. Brokers derive their XAUUSD quote from this market and add a spread between the buy and sell price.

Spot, token or perpetual?

Instrument	What you hold	Trading hours	Leverage
EVEDEX: XAUTUSD perpetual	A position on the price of Tether Gold, no metal	24/7, weekends included	Up to 100x, lower on larger positions (EVEDEX data as of November 9, 2026)
XAUUSD at a broker	A CFD on the spot gold price	Weekdays, closed at weekends	Capped at 20:1 for retail clients in the EU
XAUT token	A token that stands for one troy ounce of vaulted gold	24/7	None

The EU leverage cap on gold CFDs comes from the ESMA restriction on CFDs. Each XAUT is backed by one troy ounce of physical gold held in a vault in Switzerland by TG Commodities Limited.

Is XAUUSD forex?

Gold is not a currency, so strictly speaking XAUUSD is not part of the foreign exchange market. Because the ticker is built like a currency pair and brokers offer it next to EUR/USD, it is usually counted among forex products. For traders, what matters more is that XAUUSD moves more than most major currency pairs and reacts strongly to interest rates, the dollar and crisis news.

Common mix-ups

XAUUSD and XAUTUSD. One is the spot quote at a broker, the other a perpetual on a gold token.
Ounce and gram. A troy ounce is 31.1035 grams, not the 28.35 grams of a standard ounce.
Position and ownership. Neither a CFD nor a perpetual gives you a claim on physical gold.

Trading gold as XAUTUSD on EVEDEX

On EVEDEX you trade gold through the XAUTUSD perpetual, around the clock and at weekends, on one USDT balance with other markets.

Gold market: XAUTUSD, a perpetual on Tether Gold, where one XAUT stands for one troy ounce; no metal changes hands.
Trading hours: 24/7, weekends included.
Leverage: up to 100x, falling as positions grow, according to EVEDEX data as of November 9, 2026.
Fees: no more than 0.015% maker and 0.045% taker before cashback; funding is calculated every 8 hours and charged hourly.
Markets: crypto, oil, US stocks and forex perpetuals on EURUSD and USDJPY on the same USDT balance, which makes EVEDEX a venue for multi asset trading.
KYC: no classic KYC; you sign in with a wallet, email or social account, and every deposit passes an automated AML check.
Minimum deposit: 6 USDT; not available in restricted countries.

Perpetual contracts carry a high risk of loss.

FAQ

XAUUSD is the price of one troy ounce of gold in US dollars. XAU is the ISO code for gold and USD the code for the dollar, so a quote of 4,000 means one ounce of gold costs 4,000 dollars. When XAUUSD rises, gold gets more expensive in dollar terms.

Not strictly, because gold is not a currency. It is quoted like a currency pair and offered by forex brokers next to EUR/USD, so in practice it is usually grouped with forex products. It also moves more than most major pairs and reacts strongly to interest rates and the dollar.

XAUUSD itself is a price quote. Most retail traders trade it through a CFD at a broker, which pays the price difference without delivering any gold. In the EU, retail leverage on gold CFDs is capped at 20:1. A perpetual such as XAUTUSD is another way to trade the price without owning metal.

On EVEDEX, gold trades as XAUTUSD, a perpetual contract on Tether Gold, where one XAUT stands for one troy ounce of physical gold; it runs 24/7, weekends included. XAUUSD is the spot gold quote that brokers usually offer as a CFD on weekdays, so the two prices can differ slightly at weekends.

Gold trades over the counter between banks and dealers and on futures exchanges around the world. The LBMA Gold Price, set twice a day in London, is the reference. Brokers derive their XAUUSD quote from this market and add a spread between the buy and sell price.

A troy ounce is 31.1035 grams, slightly more than the 28.35-gram ounce used for everyday goods. Gold prices, including XAUUSD, are almost always quoted per troy ounce, so a quote of 4,000 dollars means 4,000 dollars for 31.1035 grams of gold, not for a standard ounce.

No. A CFD on XAUUSD pays the price difference and a perpetual such as XAUTUSD tracks the price, so neither gives you a claim on physical gold. Only bullion, or a gold-backed token such as XAUT, is tied to metal: each XAUT is backed by one troy ounce held in a vault in Switzerland.

On EVEDEX, which offers gold as the XAUTUSD perpetual with USDT margin, 24/7 and weekends included, with up to 100x leverage, falling as positions grow, according to EVEDEX data as of November 9, 2026. The classic gold market and broker XAUUSD pause at weekends, so around-the-clock trading usually means perpetuals on gold-backed tokens.