Profit and loss calculations for spot gold and silver are fairly simple.
Both gold and silver trade in lots, and the smallest trade you can place is 1 lot.
For gold, 1 lot is 10 troy ounces, and the smallest price increment (pip) is 0.01. This means that a one pip movement in the gold price represents a $0.10 price movement for each lot that you are trading. (1 cent x 10oz)
For silver, 1 lot is 500 troy ounces, and the smallest price increment (pip) is 0.001. This means that a one pip movement in the silver price represents a $5 price movement for each lot that you are trading. (1 cent x 500 oz)
