Gold (XAU/USD)

Gold (XAU/USD) is the price of one troy ounce of gold (about 31.1 g) quoted in US dollars. Gold is a commodity, but on MT4/MT5 it is quoted and traded like a currency pair, with a bid, an ask and a spread. The price is driven mainly by real US bond yields (an inverse link), the strength of the dollar and haven demand; a standard lot is 100 ounces, so volatility and risk run higher than on typical majors.