Precious Metals

On your MetaTrader Classic account you can trade precious metals against USD: Gold (XAUUSD) and Silver (XAGUSD). When trading these products, you will essentially be buying the metal and selling the USD (if long) or selling the Metal and buying USD (if short).

Alpari Precious metals are priced in USD per troy oz (Troy ounces).

	GOLD	SILVER
Symbol	XAUUSD	XAGUSD
1 Lot	100 Troy oz	5000 Troy oz
Minimum Value	0.1	0.1
Spread (Day / Night)	$0.75 / $1.00	$0.05
Tick Value (Per 1 Lot)	$10.00	$50.00
Minimum Price Increment (Tick size)	0.1	0.01
Margin (see below)	2% / 5%	2% / 5%
Max Auto Execution	5 Lots	5 Lots

Position Value

The value of a position can be calculated as the price multiplied by the number of t oz.

Example of position value -

A client buys 1.3 lots of Spot Gold at 891.60.

The total value of that position for margin purpose will be (1.3 x 100 x 891.60) = $115,908

Margin

Margin will be 2% for position sizes up to 5 lots (Gold 500 t oz / Silver 25,000 t oz) then 5% for larger positions.

Margin is calculated at 2% or 1:50 for this example.

$115,908 x 2% or 115,908/50 = $2,318.16

Profit and Loss

This can be calculated by multiplying tick value, lot size and market movement (Open price-closing price x 10)

In this example, the client’s position was closed at 884.20.

Market movement = (891.60-884.20) X 10
= 74 pips

1.3 x 10 x 74 = $962.00

Overnight Positions

As with Forex all positions held overnight will be rolled to the new spot value date and will therefore incur an overnight swap charge or credit to the clients account.