Gold Pip Value — Key Facts
Gold (XAU/USD) follows a different pip convention compared to standard forex pairs: 1 pip = $0.01 (one US cent). The contract size is 100 troy ounces per standard lot. This results in a fixed pip value of $1.00 per standard lot — entirely independent of the prevailing gold price. The INR equivalent shifts throughout the trading day in line with the USD/INR exchange rate.
| Lot Size | Oz | Pip value (USD) | Pip value (INR @ 83.50) | Daily range (~2,000 pips) |
|---|---|---|---|---|
| 0.01 (micro) | 1 | $0.01 | ₹0.84 | ~₹1,670 |
| 0.10 (mini) | 10 | $0.10 | ₹8.35 | ~₹16,700 |
| 1.00 (standard) | 100 | $1.00 | ₹83.50 | ~₹1,67,000 |
INR values are illustrative at USD/INR 83.50. Use the calculator above for live rates.
Why Indian Traders Pay Close Attention to Gold
India is the world's second-largest consumer of gold, and the metal holds deep cultural and financial significance across the country — from weddings to festive investment. Gold price movements directly influence household wealth and sentiment in the Indian market. Many traders follow XAU/USD not only as a speculative instrument but as a key macro indicator. When global uncertainty rises, gold demand from Indian buyers typically increases, reinforcing its importance to the local trading community.
Gold Pip Convention — A Common Source of Confusion
You may come across different definitions of a gold pip — some platforms quote it as $0.10 or even $1.00. The widely accepted industry standard used by FxPro and most major brokers is 1 pip = $0.01 — representing the second decimal place in the price (e.g., 2350.15 → 2350.16 equals 1 pip). A typical intraday gold move of $20–$40 translates to 2,000–4,000 pips under this convention. Always confirm the pip definition on your specific broker's trading platform before sizing positions.
Best Trading Hours for XAU/USD (IST)
Gold liquidity peaks during the London and New York overlap: 18:30–23:00 IST. The New York COMEX session opening around 20:00 IST is often the most volatile window of the day, with sharp directional moves and tight spreads. During early morning Indian hours before 13:00 IST, gold spreads widen considerably — avoid placing market orders during these low-liquidity periods to reduce slippage risk.
Pip values sourced from ECB reference data (Frankfurter API). Live BTC/ETH prices from CoinGecko. All values are indicative and for educational purposes — not live trading quotes. See full pip value table →