Understanding XAUUSD Contract Size
XAUUSD identifies gold priced in US dollars, but the symbol alone does not establish how much gold one lot represents on a broker’s platform.In this guide
- Read the instrument specification
- Compare two illustrative contracts
- Carry the specification through every tool
Read the instrument specification
Locate ounces per lot, minimum volume, volume step, maximum volume, quote increment and margin rules. A price displayed to two decimal places does not tell you the contract size. Record the actual specification used for your calculation.
Compare two illustrative contracts
At 100 oz per lot, 0.10 lot represents 10 oz and a $5/oz move changes value by $50. At 10 oz per lot, the same 0.10 lot represents one ounce and the same move changes value by $5. The difference is tenfold even though the lot number is unchanged.
Carry the specification through every tool
Position sizing, profit calculations and point value must use the same units-per-lot assumption. If you change brokers or account types, recheck rather than reusing an old preset. The 100 oz default in Curizora is an editable example. There is no automatic broker detection or specification feed in the initial release.
Distinguish ounces from the lot label
Suppose one product defines a lot as 100 ounces and another as 10 ounces. A 0.20-lot position represents 20 ounces in the first and 2 in the second. A $5-per-ounce move therefore changes gross value by $100 or $10 respectively. Identical lot labels do not guarantee identical exposure.
Contract size is not quote precision
A two-decimal price display says how a price is presented; it does not tell you how many ounces are traded. Tick size, contract quantity, minimum volume and volume step are separate fields. Save all four when recording the specification used for a worked example.
Can a futures specification be copied into a CFD calculator?
Only if the modeled instrument and all assumptions actually match. An exchange futures contract and a broker’s spot-metal CFD can have different quantities, trading conventions and margin methods. Curizora’s editable ounces-per-lot field describes the linear exposure you enter, not a universal definition of XAUUSD.
Try the related calculator with your own inputs and review its assumptions.
Further reading: Calculation methodology and related guides.
Educational information, not personalized investment advice. Verify broker rules and contract specifications.