Gold and Silver Trading

Pepperstone offers four precious metal crosses on our MetaTrader4 platform. Gold and Silver are traded against both the US dollar and Euro, and are traded in a similar way to any other currency pairs on the platform.

XAUUSD and XAUEUR for gold versus the US dollar and the Euro
XAGUSD and XAGEUR for silver versus the US dollar and the Euro

Traders are able to use both market execution and pending orders on these pairs but there are a couple of key differences to trading currencies;

Trading hours

Gold and silver open one hour later at the start of the trading week at platform time 01:00 and has a forty-five minute break each day following from 00:15 to 1:00 when underlying physical gold and silver markets are closed.

Contract size

One gold contract equals 100 ounces and one silver contract equals 5000 ounces, and smallest trade size for each is 0.01 being 1 ounce of gold or 50 ounces of silver. The quote price for each is per 1 troy ounce, so you will need to multiply the trade size in ounces by the entry price to calculate your exposure.

Example 1. Buy XAUUSD volume 0.60 @ 1583.55. This means we are holding 60 ounces at an exposure of USD 95,031. At 100:1 leverage, our margin requirement would be US$950.31 (95,031/100) to open the trade. For each dollar movement up or down the trade would gain/lose US$60.

Example 2. Sell XAGUSD volume 0.05 @ 28.99. This means we are holding 250 ounces at an exposure of USD 7,247.50. At 200:1 leverage our margin requirement would be US$36.24(7,247.50/200) to open the trade. For each cent movement up or down the trade would gain/lose US$2.50.

Risk Warning Trading Forex and Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Financial Services Guide (FSG) and Product Disclosure Statements (PDS) for these products is available from Pepperstone Financial Pty Ltd to download from this website or hard copies may be sent by contacting the offices at the number above. Pepperstone Razor Accounts feature spreads from 0.1 pips with an AUD 3.50 commission per 100k traded. Standard Accounts feature 0 commission and spreads from 1 pips. The FSG and PDS should be considered before deciding to enter into any Derivative transactions with Pepperstone Financial Pty Ltd. Pepperstone Financial Pty Ltd is regulated by ASIC [AFSL 414530]. Pepperstone Financial operates in Australia as an Australian financial services provider and this website is not intended to be an inducement, offer or solicitation to anyone outside of Australia in relation to any product or service. The PDS available on this website should not constitute an offer to any person of any interests to whom it would not be lawful to make such an offer. The PDS is a disclosure document prepared in accordance with Australian laws. The PDS has not been lodged nor it is required to be lodged with the Australian Securities and Investments Commission.