Straight answers to the questions people actually ask.
The price of one troy ounce of gold in US dollars. XAU is the ISO code for gold; the X marks it as a commodity belonging to no country. It is traded on forex platforms but it is a commodity, not a currency and not crypto.
A standard lot is 100 troy ounces — about 3,110 grams, just over 3 kilograms. A micro lot (0.01) is a single ounce.
With gold quoted to two decimals, one pip is $1 per standard lot, $0.10 per mini lot and $0.01 per micro lot. Confirm your broker's convention — some differ by a factor of 100.
Scholars disagree. Gold itself is permissible; leveraged CFDs raise three objections — no possession, overnight interest, and leverage as credit. A swap-free account removes the interest objection only.
On Indian exchanges, yes — gold futures on MCX through a SEBI-registered broker. Trading XAUUSD as a CFD through an offshore broker is not permitted for Indian residents.
Gold routinely moves $20–$40 in a day, driven by real interest rates, the dollar, central bank buying and crisis demand. The same lot size therefore carries far more risk than on a major pair.
Yes, including your whole deposit. Weekend gaps and news spikes can move price past your stop, and leverage multiplies an already large daily range.
It removes the decisions, not the risk. Before connecting, check the strategy's worst single day, whether it holds through weekends, its average holding time and its lot size relative to balance.
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