XAUEUR: gold in euro explained

• XAU
• EUR

What XAUEUR is

XAUEUR is the price of gold quoted in euros. "XAU" is the standard code for gold, and "EUR" is the euro. The quote tells you how many euros buy a troy ounce of gold.

Most of the world's gold trading is priced in US dollars, so the main gold instrument is XAUUSD. For a broader introduction to gold itself, see XAUUSD gold and Metals.

At a broker, XAUEUR is usually a CFD (contract for difference). With a CFD you trade the price change, not physical metal. You do not own or receive gold.

How XAUEUR combines XAUUSD and EURUSD

XAUEUR is a cross rate. It comes from two quotes:

• XAUUSD: US dollars per ounce of gold.
• EURUSD: US dollars per euro.

Divide the dollar price of gold by the dollar price of the euro, and the dollars cancel out:

XAUEUR ≈ XAUUSD ÷ EURUSD

This means XAUEUR moves for two separate reasons: the dollar price of gold changes, or the euro's value against the dollar changes. The table shows how each move pushes XAUEUR.

The last two rows matter most in practice. Gold can rise in dollars while the euro also strengthens. In that case, gold in euros can stay flat or even fall. For more on how currency pairs are quoted, see Currency pairs.

Example of deriving the price

Live quotes change constantly, so this example uses letters instead of prices:

• Let G be the XAUUSD price, in dollars per ounce.
• Let E be the EURUSD price, in dollars per euro.

The gold price in euros is G ÷ E euros per ounce.

To work it out yourself, take both quotes from your platform at the same moment and divide. Your result should be close to the XAUEUR quote the broker shows.

Bid and ask prices follow the same logic. The bid is the price at which you can sell, and the ask is the price at which you can buy.

• Synthetic XAUEUR bid ≈ XAUUSD bid ÷ EURUSD ask
• Synthetic XAUEUR ask ≈ XAUUSD ask ÷ EURUSD bid

The cross therefore carries the spread of both underlying quotes. The spread is the gap between bid and ask. The spread your broker actually shows on XAUEUR depends on its own pricing, so read it in the platform rather than assuming it. Spreads on gold are covered in more detail in XAUUSD spread.

Why euro-based investors watch it

An investor who saves, spends or reports in euros cares about the value of gold in euros, not in dollars. XAUUSD alone can mislead them:

• Currency effect. If the dollar weakens against the euro, gold can look stronger in dollars than it really is for a euro holder.
• Hedging view. Some investors in the euro area hold gold as protection against weakness in their own currency. XAUEUR shows directly how that protection has performed.
• Comparing with local assets. Euro-area bonds and deposits are in euros, so gold in euros is easier to compare with them.

For a trader in Pakistan, XAUEUR is mainly a way to separate the gold move from the dollar move. Looking at XAUUSD, EURUSD and XAUEUR side by side shows whether a gold move is broad or mostly a dollar story. The same idea applies to XAUGBP gold in pounds, XAUAUD gold in AUD and XAGEUR silver in euro.

Gold vs euro: reading the chart

When you compare gold with the euro, keep these points in mind:

• Gold and the dollar. Gold priced in dollars often reacts to US interest rates and US data, because these move the dollar.
• The euro. EURUSD reacts to European Central Bank decisions and euro-area data, as well as to US news.
• Lower dollar sensitivity. XAUEUR is often less sensitive to pure dollar moves than XAUUSD, because the dollar appears on both sides of the calculation. It is still not immune to them.
• Event risk on both sides. News from both economies can move it, so check an economic calendar for US and euro-area releases. Exness provides an economic calendar on the website and in the Exness Trade app.

None of this predicts direction. It only explains why the chart moves.

Position size, pip value and margin

A pip is the smallest standard price step used to measure a move. On gold crosses, the number of decimal places depends on the broker's quote, so check the digits shown in the platform.

On XAUEUR, the profit or loss is calculated in euros. If your account is in another currency, such as USD or PKR, the result is converted into that currency. Use the pip calculator to see the value of a pip for your lot size, in both euros and your account currency:

Margin is the money set aside to keep a position open. In general terms, margin equals the position value divided by the leverage, converted into your account currency. Use the margin calculator to see the margin needed at a given leverage:

At Exness, margin call and stop-out levels depend on the account type: Standard Cent: margin call 60%, stop out 0%; Standard: margin call 60%, stop out 0%; Pro: margin call 30%, stop out 0%; Raw Spread: margin call 30%, stop out 0%; Zero: margin call 30%, stop out 0%. Exness also states that 0% stop out not supported in some countries; may vary.

Orders opened from 15 minutes before to 90 seconds after high-impact news are subject to higher margin requirements. More tools are listed on Calculators.

XAUEUR on Exness: what to check

We have no sourced Exness specification for XAUEUR's contract size, spread, commission, leverage, trading hours or minimum volume. For comparison only, XAUUSD has a contract size of 100 troy ounces. Do not assume XAUEUR is the same.

Before you trade, open the symbol specification in the platform (in MetaTrader, right-click the symbol and open its specification). Check these items:

• contract size and digits
• minimum and maximum volume
• margin and leverage
• swap
• trading session hours

On swaps (the overnight financing charge), Exness states that by default all accounts are swap-free on listed instruments; the status can be lost. XAUEUR is included in the listed swap-free instruments. Clients registered from Pakistan are among those who receive Islamic swap-free status automatically. Check the current status of your own account in the Exness personal area. Related reading: Swap fees and Islamic finance.

Risks and the legal position in Pakistan

Leveraged CFD trading on gold and currencies can lose money fast. XAUEUR combines the volatility of gold and of EURUSD, so it can move sharply on news from either side. Read Risk management before using leverage.

In Pakistan, on payments, per the SBP, remitting foreign exchange to overseas forex/margin/CFD platforms is not allowed through any payment channel (FERA s.5(1)). On offshore platforms, per the SECP, offshore platforms have no Pakistani licence or oversight and offer no legal protection or recourse. Read Law and regulators and make your own decision.

Frequent questions

What does XAUEUR mean?

It is gold (XAU) priced in euros (EUR): the number of euros per troy ounce of gold.

How is XAUEUR calculated?

Approximately as XAUUSD divided by EURUSD. Both quotes should be taken at the same moment.

Can gold rise in dollars but fall in euros?

Yes. If the euro strengthens against the dollar by more than gold rises in dollars, XAUEUR falls.

Is XAUEUR the same as gold in Pakistan?

No. Local gold prices are in rupees and include local factors. See Gold in Pakistan.

Is XAUEUR swap-free on Exness?

Exness lists XAUEUR among its swap-free instruments, but the status can be lost. Check your account in the personal area.

Where do I find the XAUEUR contract size and leverage?

In the symbol specification inside the trading platform. Conditions can change, so check them there before opening a trade.