One lot of gold vs one lot of EUR/USD.

One lot of gold vs one lot of EUR/USD.

One standard lot of gold, XAUUSD, is usually 100 troy ounces. At a gold price of $4,200 an ounce, that is $420,000 of gold. Every $1 move in the gold price changes the position's value by $100. A mini lot, 0.10, is 10 ounces worth $42,000, and a micro lot, 0.01, is 1 ounce worth $4,200.

Those numbers explain most of what surprises new gold traders: why gold needs more margin than they expect, why small lot sizes still swing a lot of money, and why risk must be worked out from the stop distance in dollars rather than from the lot size alone.

1.00 lot100 oz, $420,000 at $4,200
0.10 lot10 oz, $42,000
0.01 lot1 oz, $4,200
Per $1 move$100 per lot
Standard set byCME's 100-ounce gold futures contract

The breakdown by lot size

The breakdown by lot size. 1.00: 100: $420,000: $100: $1,000; 0.50: 50: $210,000: $50: $500; 0.20: 20: $84,000: $20: $200; 0.10: 10: $42,000: $10: $100; 0.05: 5: $21,000: $5: $50; 0.01: 1: $4,200: $1: $10
The breakdown by lot size: the figures from this section at a glance.
Lot sizeOuncesPosition value at $4,200Per $1 movePer $10 move
1.00100$420,000$100$1,000
0.5050$210,000$50$500
0.2020$84,000$20$200
0.1010$42,000$10$100
0.055$21,000$5$50
0.011$4,200$1$10

Position value moves with the gold price; per-dollar values do not. If gold rises to $4,400, one lot is worth $440,000, but it still gains or loses $100 per $1 move.

Where the 100-ounce standard comes from

CME Group's main gold futures contract, traded on its Globex platform, represents 100 troy ounces. Most CFD brokers set their XAUUSD lot to match, so that prices and sizes line up with the reference market. A troy ounce is about 31.1 grams, so a 100-ounce lot is a little over 3.1 kilograms of gold.

Brokers that use a different size

Not every account follows the standard. Cent accounts scale contracts down so balances in cents can trade fractions of an ounce. A few brokers use 10-ounce or 1-ounce gold contracts on some account types, and some list a separate symbol such as XAUUSD.m with different specifications. Always open the Specification window for the exact gold symbol you trade and read Contract size.

What 1 lot means for margin

Margin is position value divided by leverage. One lot at $4,200 needs $21,000 at 1:20, the cap for retail clients in the EU, UK and Australia, $4,200 at 1:100 and $840 at 1:500. Most traders with accounts under $10,000 should never be near a full lot. Our guide to margin for 0.01 lot of gold has the full table.

What 1 lot means for risk

Gold can move $20 to $60 in a session in 2026. On one lot, that is $2,000 to $6,000. For 0.10 lots it is $200 to $600, and for 0.01 lots $20 to $60. Before sizing, decide the stop distance in dollars and the amount you are willing to lose, then work back to the lot size.

Worked example

A trader in Kigali with a $5,000 account wants to risk 1%, $50, on a gold trade with a $12 stop. Each lot moves $100 per $1, so a $12 stop costs $1,200 per lot. $50 ÷ $1,200 = 0.042 lots, rounded down to 0.04. The trader realises the 0.5 lots a social-media post suggested would have risked $600, twelve times the plan.

Scaling lots for small accounts

For accounts under a few thousand dollars, the useful sizes are 0.01 to 0.05 lots. A $1,000 account risking 1% per trade, $10, can afford a $10 stop on 0.01 lots or a $5 stop on 0.02 lots. Anything larger needs either a bigger account or a tighter stop, and gold's normal movement makes very tight stops unreliable. Starting small and increasing size only as the account grows keeps gold's large contract from overwhelming the account.

Gold vs a forex lot

1 lot EUR/USD1 lot XAUUSD
Units100,000 euros100 troy ounces
Position value (example)About $117,000Roughly $420,000
Value of the smallest stepOne dollar per 0.00001 move$1 for each $0.01
Typical daily range (example)50 to 100 pips, $500 to $1,000$20 to $60, $2,000 to $6,000

A full gold lot is roughly three to four times the value of a full EUR/USD lot at current prices and usually moves more in a day. That is why gold position sizes should be smaller than your forex sizes for the same risk.

Physical gold vs a CFD lot

Trading a lot of XAUUSD does not give you any physical gold. It is a contract for difference that pays the price change, financed overnight through swaps. A 100-ounce lot is a measure of exposure, not of metal you own. Investors who want to hold gold long term usually compare CFDs with physical bars, coins or exchange-traded funds, which have different costs and no daily margin calls.

Spread cost per lot

Spreads scale with lot size in the same way as profit and loss. A $0.25 spread costs $25 on one lot, $2.50 on 0.10 lots and $0.25 on 0.01 lots, every time you open a trade. For short-term gold strategies with small targets, that cost is a large share of each win, which is another reason to trade gold during its most liquid hours.

How to check your own contract

  1. Right-click XAUUSD in Market Watch.
  2. Choose Specification.
  3. Read Contract size and Digits.
  4. Multiply contract size by the price for position value; contract size times $1 for value per $1 move.

Gold in other quote currencies

Some brokers also list gold against other currencies, such as XAUEUR or XAUAUD. The contract is still in ounces, but the price and profit are in the second currency. A $1 move in XAUUSD and a €1 move in XAUEUR are not the same amount of money, so recalculate if you switch symbols.

Keep the figure "$100 per $1 per lot" in mind for every gold trade. Divide by ten for each step down in lot size and the maths is done.

Social-media posts often quote gold trades in full lots. For most retail accounts, a full lot of gold is far too large; size from your own stop and risk.

Frequently asked

How much is 1 lot of gold?

Usually 100 troy ounces. At $4,200 an ounce that is $420,000 of gold, and each $1 change in price moves the position by $100. Check your broker's Contract size in the Specification window to confirm.

How many ounces is 0.01 lot of gold?

On a standard 100-ounce contract, 0.01 lots is 1 ounce. It moves $1 for each $1 change in gold and is worth the gold price, about $4,200 at current levels.

Why is a gold lot 100 ounces?

Brokers mirror CME Group's main gold futures contract, which represents 100 troy ounces. Matching the reference market keeps sizes and prices consistent across platforms.

How much margin does 1 lot of gold need?

Position value divided by leverage. At $4,200, one lot needs $21,000 at 1:20, $4,200 at 1:100 and $840 at 1:500. Most retail accounts are far too small for a full gold lot.

Is gold riskier than forex per lot?

Yes. A gold lot is worth more than a forex lot at current prices and usually moves more in a day. The same lot size on gold therefore carries several times the risk of most major pairs.

Do all brokers use 100 ounces?

Most do on standard accounts. Cent accounts scale contracts down, and a few brokers use smaller gold contracts on some account types. Always check the Specification of the exact symbol you trade.

Official sources: CME Group: gold futures fact card · ESMA: CFD product intervention measures