XAU
USD
What XAUUSD is
XAUUSD is the symbol for gold priced in US dollars. XAU is the standard code for gold, and USD is the US dollar. The quote shows how many dollars a troy ounce of gold costs.
On Exness, XAUUSD is a CFD (contract for difference). You do not own physical gold. You hold a contract whose profit or loss follows changes in the gold price. You can open a position expecting the price to rise (buy) or fall (sell), but the result depends entirely on how the price actually moves.
Gold CFDs are usually traded with leverage. Leverage means you control a large position with a smaller deposit, called margin. It makes both gains and losses bigger. Leveraged CFD trading can lose money fast, including the whole deposit.
Why gold is quoted in dollars per troy ounce
The troy ounce is the traditional weight unit for precious metals. It is a little heavier than the ordinary ounce used for food. All international gold prices, from bullion dealers to futures exchanges, use it.
Gold is priced in US dollars because the dollar is the main currency of world trade and reserves, and the largest gold markets settle in dollars. This is why "gold vs US dollar" is the way most traders think about XAUUSD. A change in the gold price can come from gold itself or from a change in the value of the dollar.
Local prices in Pakistan are quoted per tola in rupees and include the USD/PKR exchange rate and local market factors. For that side, see Gold in Pakistan and SBP exchange rates.
What moves the gold price
These are the factors traders watch. None of them gives a reliable forecast on its own, and they often pull in different directions.
| Driver | Why it matters for XAUUSD |
|---|---|
| Real US yields | Gold pays no interest. When inflation-adjusted US bond yields rise, holding gold costs more in lost income, and the reverse when they fall. |
| The US dollar | Gold is priced in dollars. A stronger dollar makes gold more expensive in other currencies, which can reduce demand. |
| Central-bank buying | Central banks hold gold as a reserve asset. Large official purchases or sales change demand. |
| Geopolitics | Wars, sanctions and political crises can raise demand for gold as a store of value. |
| Jewellery demand | Jewellery is a large share of physical demand, with South Asia and China among the major buyers. |
| ETF demand | Gold exchange-traded funds hold physical metal. Inflows and outflows show investor demand. |
US economic data (inflation, jobs, central-bank decisions) often cause sharp moves. The economic calendar is available on the website and in the Exness Trade app. For a wider view, see Fundamental analysis.
When gold is most active
At Exness, XAUUSD trades 24/5. Activity is not even across the day:
- Asian session: usually calmer, with moves driven by Asian physical demand and news.
- London session: liquidity rises as the main bullion market opens.
- London–New York overlap: usually the most active period, with the tightest liquidity and the biggest reactions to US data.
- Late US session: activity fades, and spreads can widen around the daily rollover.
Spreads can widen around major news and thin liquidity. See XAUUSD spread for how spreads on gold behave.
XAUUSD specification at Exness
The figures below are taken from the Exness Help Center as published at the time of writing. Conditions change, so check the specification in the platform (symbol properties in MetaTrader or the instrument info in Exness Terminal) before you trade.
| Item | Exness condition |
|---|---|
| Contract size | 100 troy ounces per lot |
| Trading volume | Min 0.01 lot, max 200 lots |
| Account types | Standard, Standard Cent, Pro, Raw Spread, Zero |
| Commission | Raw Spread 3.5 USD, Zero 5.5 USD per lot per side; Standard and Pro: no commission |
| Maximum leverage | 1:Unlimited if eligible |
| Higher margin requirements | 1:200 – 1:1000 (0.1%-0.5%) |
| Swap | Triple swap on Wednesday |
| Trading hours | 24/5 |
Notes:
- Contract size means a full lot of XAUUSD equals 100 troy ounces. A position of 0.01 lot covers a small fraction of that.
- Unlimited leverage is not given by default. Exness states the conditions as on real accounts: equity below 5,000 USD and at least 10 closed orders totalling 5 lots or more across real accounts. Otherwise the default leverage tiers by equity apply.
- Higher margin requirements (HMR) apply to orders opened from 15 minutes before to 90 seconds after high-impact news. Exness Help Center pages show different HMR figures for gold, so check the current value in your Personal Area.
- Swap is the overnight financing charge or credit. Exness says by default all accounts are swap-free on listed instruments; the status can be lost, and Pakistan is in its list of countries where clients get swap-free status automatically. See Swap fees.
- On the Standard Cent account, 1 cent lot = 1,000 USD = 0.01 standard lot, so you can trade smaller gold positions. See Standard Cent account.
XAUUSD247: gold on weekends
Exness also lists a separate symbol: XAUUSD247: gold 7 days a week, fixed leverage 1:200. XAUUSD247 is excluded from the instruments eligible for unlimited leverage and is not offered on Standard Cent. Weekend prices can move away from the weekday market, and gaps can appear when the main market reopens. Check the symbol's specification in the platform before using it.
Ready to try it on a real or demo account?
Partner link · trading carries a high risk of loss
Pip value and margin for gold
A pip is the smallest standard price step used to count price moves. For XAUUSD the pip size is set in the instrument specification, so check it in the platform. Pip value is in US dollars (the quote currency) and is converted into your account currency, for example PKR or USC.
Fill in the empty fields to see the result.
Margin is the money held by the broker while a position is open. For XAUUSD it equals price × contract size × lots ÷ leverage. During HMR periods the leverage used for this is lower, so margin is higher.
Fill in the empty fields to see the result.
Exness margin call and stop-out levels by account: 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 states 0% stop out not supported in some countries; may vary. For position sizing, read Risk management.
Choosing a platform and practising
You can trade XAUUSD on MT4, MT5, Exness Terminal and the Exness Trade app. See Platforms and apps. New traders can test order types and lot sizes on a demo account, which comes with 10,000 USD (virtual). See Demo account. Note that demo not available for Standard Cent.
Legal position in Pakistan
Before trading, understand the local rules. On residents' purchases, per the SBP, the purchase of offshore forex/margin/CFD products by Pakistani residents violates section 4(1) of FERA 1947, and 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 Regulation and Safety before you decide anything.
Frequent questions
What does XAUUSD mean?
It is the price of a troy ounce of gold in US dollars. XAU is the code for gold and USD is the US dollar.
Is XAUUSD trading the same as buying physical gold?
No. On Exness it is a CFD. You gain or lose from price changes but do not own any metal.
How large is a lot of gold at Exness?
A full lot is 100 troy ounces. The volume range is min 0.01 lot, max 200 lots.
Can I trade gold on weekends at Exness?
The standard XAUUSD trades 24/5. Exness lists XAUUSD247: gold 7 days a week, fixed leverage 1:200.
Does gold always rise when the dollar falls?
No. The relationship is common but not fixed. Real yields, central-bank demand and geopolitics can outweigh the dollar effect.
Is there a commission on XAUUSD?
On Standard and Pro there is no commission; costs are in the spread. On the other accounts: Raw Spread 3.5 USD, Zero 5.5 USD per lot per side.
Where do I check the current gold specification?
In the symbol properties of MetaTrader, in Exness Terminal, or in the Exness Personal Area. Conditions can change.
