Trade Forex Trading

XAUUSD Metal Online Trading - Gold Trading Symbol

Gold is a highly sought-after commodity in global online financial exchanges. Given that XAUUSD represents one of the precious metals, its valuation is continually set and quoted against the US Dollar at any given moment. Individuals possess the choice to either procure or liquidate XAUUSD directly as physical bars of gold or through the more prevalent digital method - buying and selling XAUUSD online via contracts.

When dealing with the purchase and sale of physical Gold in the online sphere, a XAUUSD trader must first locate a suitable online XAUUSD Broker, who will subsequently grant access to conduct gold trading over the internet. The Gold transacted will be dealt with in the form of a contract: when a trader acquires a Gold contract, their resulting outcome - profit or loss - depends entirely on the subsequent movement of the Gold price. If a trader purchases a XAUUSD contract and the Gold prices appreciate, the online trader realizes a gain based on the price difference and can then conclude their Gold contract buy trade to secure those profits. Conversely, should a trader buy one Gold contract and the price subsequently declines, the trader will incur a loss when they close the open contract position at a lower valuation.

Trade XAUUSD online like stocks. Profits come from rising values. Losses hit when prices drop.

XAUUSD Contracts

In online gold trading, gold trades as a contract. One contract equals 100 ounces. So traders buy or sell lots worth 100 ounces of XAU/USD.

An online XAUUSD broker quotes prices for Gold, enabling a XAUUSD trader to either purchase or sell gold contracts at the prevailing quoted rate. In online XAUUSD transactions, gold is transacted and referenced by the trading identifier XAU.

Gold pairs with the US Dollar. Its symbol shows gold price versus USD.

Price of XAUUSD - Gold Price Quotes

XAUUSD Gold Online Trading - What is Gold Trading Symbol? - XAUUSD Trading Symbol Explained

The Price of XAUUSD is quoted as show above using the Bid & Ask Price

  • Bid is the price at which you buy
  • Sell is the price at which you sell

The buying and selling image of XAUUSD is XAUUSD, but inside the above instance it is simply written as XAUUSD.

The current price quote of XAUUSD is 1267.11

This implies that a trader looking to purchase one standard lot of XAUUSD would execute the buy order at the price of 1267.11.

Gold pricing is quoted using two decimal points in the example provided, with the last two decimal points being .11.

The final decimal figure is utilized in calculating realized profits and incurred losses on trades: this ultimate digit is known as a pip or a point.

When trading XAUUSD one pip represents a movement of $1

Imagine that the price increases from 1267. 00 to 1268. 00. A $1 shift is possible, but because XAUUSD is traded in 100-ounce contracts, that $1 translates into a $100 gain for you.

Because the price changing from 1267.00 to 1268.00 is equal to 100 little moves, this means each of those little moves is equal to a $1 profit for every 1 pip (0.01 price change).

Opening a XAUUSD Chart

To open a gold chart, just go to the “File” menu in the MT4 trading platform and pick “New Chart.” That's it.

How To Open a XAUUSD Trading Chart - How to Open XAUUSD Chart on Gold Trading Platform

Opening Gold Chart in MetaTrader 4 Platform

One can then select either XAUUSD Metal or Gold Metal from the "Spot Metals" menu option visible beneath this, immediately after activating the New Chart function.

Gold Metal Online Trading - XAUUSD Symbol

Opening XAU USD Chart on MT4 Platform

Learn More Lessons & Tutorials:

XAU/USD Broker

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