What is the Difference Between XAUUSD Standard Contract & Mini Contract?

What is the Difference Between XAUUSD Standard Contract & Mini Contract in XAUUSD?

The difference between XAUUSD Standard Contract & XAUUSD Mini Contract is the trading volume of the xauusd transaction that is opened using the Standard Contract and that which is opened using XAUUSD Mini Contract.

Standard Contract - the trading volume is equal to 1 gold trading lot

Mini Contract - the trading volume is equal to 1 tenth of standard gold trading lot

Standard Contracts - for the Standard XAUUSD Contracts the trading volume is equal to 1 xauusd lot is also referred to as 1 Standard lot or 1 XAUUSD Lot. For Standard Contract the pip value is equal to $10.

Mini Contracts - for the Mini XAUUSD Contracts the trading volume is equal to 1 tenth of standard xauusd lot or one xauusd mini lot. For Mini Contract the pip value is equal to $1.