Guide · 2 min read
What is XAUUSD? The gold price in US dollars explained
Short answer: XAUUSD is the price of one troy ounce of gold in US dollars. Traders see it on charts and trading platforms as a pair, like EURUSD, but it is a metal. Most retail traders buy or sell it as a CFD, a contract on the price, not the metal itself.
Published: 24 October 2026.
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How to read the code
- XAU is the code for gold. The X marks a commodity that is not a country's currency.
- USD is the US dollar, the currency the price is quoted in.
- A quote of, say, 2,000.00 means one ounce costs two thousand dollars.
What one lot means
On most platforms one lot is one hundred ounces. A one dollar move then changes the result of a trade by about one hundred dollars per lot. Contract sizes differ by broker, so read yours. The guides on lot size and pip value show the arithmetic.
What you pay to trade it
The spread, any commission and the overnight swap are the costs. They are small per trade and large over a year of trades.
Spot, futures, ETF or physical
The spot quote is not the only way to own gold exposure. See XAUUSD vs gold futures and CFD, ETF, futures or physical gold.
What moves it
Rates, the dollar, inflation and risk mood. Start with what moves the gold price and plan around news with an economic calendar.
Before you trade it
Know your risk per trade, put a stop loss on it, and test any rule on past prices with costs. See how to backtest a gold strategy in MT5.
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FAQ
What does XAUUSD mean?
XAU is the market code for one troy ounce of gold and USD is the US dollar. XAUUSD is the price of one ounce of gold in dollars.
Is XAUUSD forex?
It is quoted like a currency pair and often sits in the forex list on a broker platform, but it is a metal. Your broker may sell it as a CFD, which is a contract on the price.
How big is one lot of XAUUSD?
On most brokers one lot is one hundred ounces, so a one dollar move is about one hundred dollars per lot. Check the contract size in your platform.
Why does the price move?
Mostly interest rates, the dollar, inflation, risk mood and big news releases. See the guide on what moves the gold price.
Is XAUUSD the same as gold futures?
No. The spot quote follows the cash price, while futures have an expiry and can trade at a different price. See the XAUUSD vs futures guide.
Can I trade XAUUSD with a small account?
You can, but the minimum lot may risk too much of a small account. Work out the lot from your stop and risk before you open a trade.
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An educational tool. It is not investment advice. Trading leveraged products such as gold CFDs carries a high risk of losing money, and you can lose all of it.
BaroqTech makes software. It is not investment advice and it does not manage money. Trading leveraged products such as gold CFDs carries a high risk of losing money, and you can lose all of it. Results from a test or from a demo account do not predict results on a real account.
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The Gold Field Guide
The gold day hour by hour, the six forces behind the price and the releases worth a place in your calendar.