XAUUSD Pips Explained: Pip Size and Pip Value per Lot

September 21, 2026

6 minutes

Last Updated: November 4, 2026

XAUUSD pips are small steps in the gold price, usually $0.10 each, although some brokers count $0.01 as a pip. On EVEDEX, gold trades as the XAUTUSD perpetual in $0.10 steps with no lots; at brokers, a $0.10 move is worth $10 on a 100-ounce standard lot and $0.10 on a 0.01 lot. Profit or loss is always ounces times the dollar change.

This guide covers pips and points in gold quotes, pip value per lot, a step-by-step calculation and position sizing from a stop-loss. It ends with how gold is sized on EVEDEX, a gold trading platform built on perpetual futures, where the XAUTUSD perpetual has no lots.

Key takeaways

EVEDEX, a platform for multi asset trading, lists gold as the XAUTUSD perpetual: positions are sized in XAUT, where 1 XAUT stands for 1 troy ounce, and the price moves in $0.10 steps.
Most brokers treat $0.10 as one gold pip and $0.01 as a point; the contract specification decides.
A standard lot is usually 100 troy ounces, so a $1 move is worth $100 per lot.
Profit or loss equals ounces times the dollar change; leverage changes the margin, not this math.
Position size should come from the stop-loss distance, not from a round lot number.

What are XAUUSD pips?

Gold is quoted in US dollars per troy ounce with two decimals; for the ticker itself, see our guide to XAU/USD. Most brokers call the second decimal, $0.01, a point and ten points, $0.10, a pip. Some platforms count $0.01 as a pip, and traders often describe a $1 move as 10 pips. The pip size is a convention, not a rule, so the same $0.50 move can be 5 pips on one platform and 50 on another.

Currency pairs work differently: a pip in EURUSD is the fourth decimal, 0.0001, and in yen pairs such as USDJPY the second, 0.01.

How much is a XAUUSD pip worth per lot?

Position	Ounces	Per $0.10 move (1 pip)	Per $1 move	Note
EVEDEX, 1 XAUT	1 oz	$0.10	$1	No lots: size in steps of 0.001 XAUT, price in $0.10 steps
0.01 lot	1 oz	$0.10	$1	The usual broker minimum
0.10 lot	10 oz	$1	$10	Scales in a straight line with ounces
1 lot (standard)	100 oz	$10	$100	Contract size can differ; check the specification

Why pip counts differ between platforms

A $12.50 move in gold is 125 pips on a platform that uses $0.10 and 1,250 pips on one that uses $0.01. On a 1-lot position the money is the same $1,250 either way, because the result comes from the dollar change, not from the pip count. Pips are handy for comparing moves within one platform; across platforms, compare dollars.

Spreads are quoted in pips as well, and they change through the day: they are usually tightest during the London and New York overlap, as our guide to gold market trading hours shows.

How to calculate XAUUSD pip value

Check the contract size. It is usually 100 troy ounces per standard lot.
Convert lots to ounces. 0.5 lot × 100 = 50 ounces.
Multiply by the price change. A $12.50 move on 50 ounces is $625.
Divide by the pip size for a pip count. $12.50 ÷ $0.10 = 125 pips, so each pip is worth $5 on this position.

Leverage does not change the result: it only sets how much margin the position needs.

Position size from a stop-loss

Work backwards from the amount you are ready to lose:

Divide risk by the stop distance. Risking $20 with a stop $4 away gives 5 ounces.
Convert to the platform's units. 5 ounces is 0.05 lot at a 100-ounce broker.
Check the margin. Margin equals the position's value divided by leverage. In the EU, retail gold CFDs are capped at 20:1 under the ESMA restriction on CFDs, so margin is at least 5% of the position's value.

A wide stop can push the size below the broker's minimum: $20 of risk with a $40 stop is 0.5 ounces, or 0.005 lot, under the usual 0.01 lot. Then either the risk per trade grows or the trade is skipped.

Risks to keep in mind

Pip definition. Mixing up $0.01 and $0.10 changes the planned size tenfold.
Leverage. Higher leverage allows bigger positions, so each pip is worth more and liquidation comes closer.
Gaps and spreads. Weekend gaps and wider spreads in thin hours can fill a stop worse than planned.
Costs. Spreads, commissions, overnight swaps or funding reduce the result of every move.

CFDs and perpetual futures carry a high risk of loss.

Sizing gold on EVEDEX

On EVEDEX, gold trades as the XAUTUSD perpetual on Tether Gold, sized directly in XAUT with no lots.

Pip size: the price moves in $0.10 steps, the same size as the usual XAUUSD pip, and quantity in steps of 0.001 XAUT.
Position size: one XAUT stands for one troy ounce held in Switzerland by TG Commodities Limited, so a 0.5 XAUT position gains or loses $0.50 per $1 move.
Minimum order: 5 USDT; the minimum deposit is 6 USDT.
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 up to 35% cashback; funding is calculated every 8 hours and charged hourly.
KYC: no classic KYC; you sign in with a wallet, email or social account, every deposit passes an automated AML check, and the platform is not available in restricted countries.
Markets: EURUSD moves in 0.0001 steps, one classic pip, and the same USDT balance covers crypto, silver, oil and US stocks.

Perpetual contracts carry a high risk of loss.

FAQ

At most brokers 1 pip in XAUUSD is a $0.10 move in the gold price. On a standard 100-ounce lot that is worth $10, on a 0.10 lot $1 and on a 0.01 lot $0.10. Some brokers count $0.01 as a pip, so check the contract specification before you size a trade.

With the common $0.10 convention, a $1 move in gold is 10 pips; brokers that count $0.01 as a pip call the same move 100 pips. The money is the same either way: $100 per standard lot of 100 ounces and $1 per 0.01 lot. Compare dollar results, not pip counts, across platforms.

A 0.01 lot is usually 1 troy ounce, so a $0.10 pip is worth $0.10 and a $1 move is worth $1. This is the smallest lot most brokers offer for XAUUSD. On EVEDEX there are no lots, and a position of 1 XAUT, one troy ounce, gives the same $0.10 per pip.

Subtract the entry price from the exit price and divide by the broker's pip size, usually 0.10: a $12.50 move is 125 pips. To get the result in money, multiply the dollar change by the position size in ounces, so the same move on a 50-ounce position is worth $625.

Most brokers call the second decimal of the gold price, $0.01, a point and ten points, $0.10, a pip. Some platforms use $0.01 as the pip instead, so the same $0.50 move can read as 5 pips on one platform and 50 on another. The contract specification settles which convention applies.

No. Pip value depends only on the position size in ounces. Leverage changes how much margin the position needs, so it lets you open a bigger position, and each pip on that bigger position is worth more. That is also why higher leverage brings liquidation closer.

Divide the amount you are ready to lose by the stop distance in dollars: risking $20 with a stop $4 away gives 5 ounces. Then convert to the platform's units, 5 XAUT on EVEDEX or 0.05 lot at a 100-ounce broker, and check the margin, which equals the position's value divided by leverage.

EVEDEX lists gold as the XAUTUSD perpetual and sizes positions directly in XAUT, where 1 XAUT stands for 1 troy ounce. There are no lots: the price moves in $0.10 steps and quantity in steps of 0.001 XAUT, a 0.5 XAUT position gains or loses $0.50 per $1 move, and the minimum order is 5 USDT.