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Spot Metals
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 6 pm ET Sunday through 5 pm ET Friday. Be advised of the potential for illiquid market conditions outside of NY trading hours (8am-5pm ET). 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.
Is there a limit to the amount of gold or silver I can hold in my account?
The maximum position a client may hold at any given time is 3,000 oz for spot gold and 100,000 oz for spot silver.
How is margin calculated for spot gold and silver?
Normal margin on spot metals is 100:1, or a 1% margin factor. Higher leverage magnifies gains and losses.
What is one point worth when trading spot gold and silver?
One pip of spot gold is 10 cents or $0.10 per lot (10 oz.). One pip of spot silver is worth $5 per lot (500 ounces).
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 place orders over the phone?
You may trade with FOREX.com from any computer with an Internet connection. Simply go to www.forex.com/uk and login to your account. If you are traveling or do not have access to a computer with an Internet connection, you may execute trades over the phone with a FOREX.com dealer by calling 0800-032-1948.
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 lot or one contract of spot gold is equal to 10 troy ounces. One contract of spot silver is equal to 500 troy ounces.
How are spot gold prices determined?
Prices quoted are inclusive of our normal dealing spreads, which are derived from Interbank dealing spreads. FOREX.com is compensated through the bid/ask spread.
Can I access spot gold trading right from my trading platform?
Yes - Gold trading is available on all FOREX.com platforms.
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