What are gold pips?

Pips in gold assets represent a price movement of 0.01 for most MT4 and MT5 brokers, while for currency pairs, a pip price movement is 0.0001. For example, when gold prices move from 1851.70 to 1851.71, it is 1 pip movement. Below is presented 22 pips difference between the bid and ask price for gold assets. How to calculate gold pips?

How many pips in 20 ounces of gold?

For example, if you buy 20 ounces of gold at an entry price of $1400 and take a profit value of $1401.33, you can earn 20 ounces* 133 pips = 2660 pips because from $1400 to $1401.33 are 133 pips. 1 ounce of gold (XAUUSD) is 1000 units or 1 micro lot with a pip value of $0.01.

How to calculate pips in forex when gold is traded in ounces?

How to calculate gold pips in forex when gold is traded in ounces? Gold can be traded in ounces on some trading platforms instead of lots. For example, if you buy 20 ounces of gold at an entry price of $1400 and take a profit value of $1401.33, you can earn 20 ounces* 133 pips = 2660 pips because from $1400 to $1401.33 are 133 pips.