GLOSSARY · POSITION SIZING
What is contract size?
Contract size is how many units of the underlying instrument one standard lot represents, and it is the multiplier that converts a price move into money.
What it means
For spot gold the standard contract is 100 troy ounces. That single number drives every other calculation on the symbol: a $1.00 move is $100 per standard lot, $10 per 0.10 lots and $1 per 0.01 lots, and pip value is just this figure scaled.
Why it matters
Not every broker uses 100. Some offer gold contracts of 10 ounces under a different symbol name, and some regional brokers use a kilogram-based contract. Assuming 100 without checking the symbol specification in MetaTrader is how a position ends up ten times larger than intended.
What this changes in practice
Check it directly rather than trusting a calculator, including ours. In MetaTrader 5, right-click the symbol in Market Watch and open Specification — the contract size is listed there, along with the minimum volume and the stop level. Two minutes of reading that panel prevents the most expensive category of sizing error.
Related terms
- Lot sizeLot size is the quantity of an instrument traded in a single position, expressed as a multiple o…
- Micro lotA micro lot is one hundredth of a standard lot — 0.01 in the order ticket — and is the smallest …
- PipA pip is the conventional unit of price movement for an instrument, but on gold the convention i…
- Symbol suffixA symbol suffix is the broker-specific text appended to an instrument name — XAUUSDm, XAUUSD.raw…
Educational information only, not financial advice. Trading leveraged products carries substantial risk of loss. Last updated 2026-08-11.