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Trade Gold on XM: Spreads, Leverage and Weekend GOLD24-7
XM offers spot gold with leverage up to 1000:1 and no commission, gold against the euro, and GOLD24-7 for weekend trading on MT5. Here are XM's published gold spreads, how one lot works, and the risks of trading gold at weekends.
WriterAbir KhanWriterWrites the guides · checks every figure against primary sources View profileAbout Abir →
Co-writerJannatul FerdaushWriterRisk and broker-safety guides · Applied Statistics, University of Dhaka View profileAbout Jannatul →
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You can trade gold at XM as a CFD on MT4, MT5 and the XM App. XM's published Standard-account table shows spot GOLD with an average spread of 5.5 and a minimum of 4.0, maximum leverage of 1000:1 and no commission. XM also offers gold against the euro (XAUEUR) and GOLD24-7, a separate instrument on MT5 that trades seven days a week, with a wider spread and lower leverage.
Gold moves more than most currency pairs, which is why it attracts short-term traders and why oversized positions end accounts quickly. The figures below are XM's own and change with market conditions.
| Spot gold (GOLD) | 5.5 average spread, 4.0 minimum, up to 1000:1 |
|---|---|
| Gold vs euro (XAUEUR) | 8.0 average, 6.5 minimum, up to 1000:1 |
| GOLD24-7 | 20.0 average, 10.0 minimum, up to 250:1 |
| Silver | 7.0 average, 6.0 minimum, up to 400:1 |
| Commission | None (spread only) |
| Contract size | 1 lot = 100 troy ounces (XM's example) |
XM's gold instruments
| Symbol | Average spread | As low as | Max leverage | Platforms |
|---|---|---|---|---|
| GOLD | 5.5 | 4.0 | 1000:1 | MT4, MT5, XM App |
| XAUEUR | 8.0 | 6.5 | 1000:1 | MT4, MT5, XM App |
| GOLD24-7 | 20.0 | 10.0 | 250:1 | MT5 accounts |
| SILVER | 7.0 | 6.0 | 400:1 | MT4, MT5, XM App |
Those are XM's published Standard-account figures. The Ultra Low account quotes gold as low as 2.4, against 4 on Standard, according to XM's account comparison. Our XM account types guide compares the two.
How much a gold trade moves
XM's own execution example uses 1 lot of gold as 100 troy ounces, so every $1 move in the gold price changes a 1-lot position by $100. Smaller sizes scale down: 0.10 lots is $10 per $1 move and 0.01 lots is $1.
| Position | Per $1 move in gold | A $10 move against you |
|---|---|---|
| 0.01 lot (1 oz) | $1 | $10 |
| 0.10 lot (10 oz) | $10 | $100 |
| 1 lot (100 oz) | $100 | $1,000 |
Gold moving $10 or more in a day is common. Size positions from your stop loss so a loss is 1% to 2% of the account. Our gold lot size calculator does the sum for any stop distance.
GOLD24-7: weekend gold
GOLD24-7 is XM's answer to the weekend gap. It is a separate instrument from spot gold, available on MT5 accounts, that can be traded seven days a week. XM explains that when global markets are closed, its price is sentiment-driven, reflecting real-time expectations rather than a live exchange.
- Liquidity is lower at weekends, so prices can move sharply and spreads are wider: an average of 20 against 5.5 for spot gold.
- Maximum leverage is 250:1 rather than 1000:1, applied by total trade volume.
- Swaps are charged every day, including Saturday and Sunday.
- There are no extra fees beyond the spread and swaps.
GOLD24-7 lets you react to weekend news, but the price you trade on isn't set by an open exchange. Keep weekend positions small.
Leverage and margin on gold
XM's own example prices gold at $3,650. At that price a 1-lot position is worth $365,000 and needs about $365 of margin at 1000:1, so a move of about $3.65 against you wipes out that margin. XM's stable leverage policy keeps gold leverage unchanged during news such as US payrolls, and account-level leverage falls as equity grows: to 500:1 above $40,000 and lower beyond that. Our XM stop out guide explains the 20% stop-out level.
Hedging gold at XM
XM allows hedging within an account. For forex, gold and silver, hedged positions need no margin, so you can open a hedge on gold even when your margin level is below 100%. Hedging doesn't remove costs: both sides pay the spread and swaps.
Swaps on gold
Spot gold swaps follow XM's formula for spot metals: trade size times the tom-next rate, minus a mark-up, with three days charged on Wednesday. On the Ultra Low account some instruments are swap-free; XM uses gold as its example of how to check. Our XM swap-free guide shows the steps.
Tips for trading gold at XM
- Trade spot gold in the London and New York sessions, when spreads are tightest.
- Check the economic calendar for US jobs, inflation and Fed decisions.
- Set your own leverage far below 1000:1.
- Use GOLD24-7 only for small weekend positions, if at all.
- Compare the Ultra Low gold spread with Standard before choosing an account.
Gold vs euro and silver
XAUEUR prices gold in euros, useful if your account or view is euro-based, but its spread is wider than spot gold's at an average of 8.0. Silver moves more in percentage terms than gold and has lower leverage, 400:1 at XM, which is a sensible reminder of its extra volatility. XM Copy Trading copies gold trades down to 0.001 lots, so even small copied positions follow a gold strategy.
When gold is cheapest to trade
XM's spread on gold is lowest when the market is busiest: during the London session and the overlap with New York. It widens around the daily rollover, at the weekly open and on quiet holidays. Big US data, such as jobs and inflation reports, moves gold sharply in seconds. If your strategy doesn't depend on those moments, avoid opening gold positions in the minutes around them.
If you trade gold on a small account, XM's Micro account option uses smaller lot sizes, which lets you match position size more precisely to a small balance. Check the gold symbol's contract size in its specifications after logging in before your first trade.
Gold punishes size more than direction. At 100 ounces a lot, a routine $10 day is $1,000 on a single position. Work out your dollar risk first and let that set the lot size.
Tendai traded 0.5 lots of gold at XM on a $1,500 account and lost $600 on a $12 move during a US jobs report. He recalculated with XM's 100-ounce lot size and now risks $30 per trade with 0.05 lots and a $6 stop, using GOLD24-7 only to reduce positions after major weekend news.
Frequently asked
What is XAUEUR at XM?
Gold priced in euros. XM's table shows an average spread of 8.0 and leverage up to 1000:1, wider than spot gold's 5.5 average.
What leverage does XM offer on silver?
Up to 400:1 according to XM's table, with an average spread of 7.0 and a minimum of 6.0.
What is XM's spread on gold?
XM's published Standard-account table shows spot GOLD with an average spread of 5.5 and a minimum of 4.0, with no commission. XM quotes gold as low as 2.4 on the Ultra Low account.
What leverage does XM offer on gold?
Up to 1000:1 on spot gold and XAUEUR, 400:1 on silver and 250:1 on GOLD24-7, subject to your account's equity tier.
Can I trade gold on weekends at XM?
Yes, through GOLD24-7 on MT5. It trades seven days a week with sentiment-driven weekend pricing, wider spreads and swaps charged daily including weekends.
How many ounces is 1 lot of gold at XM?
XM's own example uses 1 lot as 100 troy ounces, so each $1 move in gold is $100 on a 1-lot position.
Is there commission on gold at XM?
No. Gold on Standard and Ultra Low accounts is spread-only, with swaps on overnight positions.
Can I hedge gold at XM?
Yes, within one account. XM says hedged gold positions need no margin.
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