Profit and loss calculations for Spot Gold and Spot Silver are fairly simple.
Both Spot Gold and Spot Silver trade in lots and the smallest trade you can place is 1 mini lot. The standard lot for Spot Gold is 100 troy ounces and the standard lot for Spot Silver is 5,000 troy ounces.
For gold, 1 mini lot is 1 troy ounces and the smallest price increment (pip) is 0.01. This means that a one pip movement in the gold price represents a $0.01 price movement for each lot that you are trading. (1 cent x 1 oz)
For silver, 1 mini lot is 50 troy ounces and the smallest price increment (pip) is 0.001. This means that a one pip movement in the silver price represents a $0.50 price movement for each lot that you are trading. (1 cent x 50 oz).
