What are the symbols for spot gold and silver?
The symbol for spot gold is XAU/USD and silver is XAG/USD.
What are the trading hours for trading spot gold and silver?
Spot gold and silver trading is available from 11 pm GMT Sunday through 10 pm GMT Friday. Be advised of the potential for illiquid market conditions outside of NY trading hours (1pm-10pm GMT). Spot gold and silver trading also follow CME holiday closures.
What is the maximum number of contracts I can trade with one click?
Each price quote is valid for trades up to 25 contracts.
What is one point worth when trading spot gold and silver?
One pip for a mini lot (1 oz.) of spot gold is 1 cent or $0.01. One pip for a mini lot (50 ounces) of spot silver is worth $0.50.
What is the spread when trading spot gold and silver?
The typical spread you will see for spot gold is 55 pips. For example, 900.25/80. Spot silver has a typical spread of 4. Spreads will vary depending on market liquidity.
Can I hold positions over the weekend and major holidays?
Yes.
Is there an expiry date on spot gold and silver contracts?
There is no expiry date when trading spot gold and silver. As long as you maintain the required margin, your position will remain open until you choose to close it. As with forex positions, open gold and silver positions automatically roll forward to the next day's value date following the close of NY trading at 1700 ET.
What is one lot of spot gold and spot silver equal to?
One mini lot of spot gold is equal to 1 troy ounce. One mini lot of spot silver is equal to 50 troy ounces.
