The GoldHunts gold trading glossary defines the XAUUSD terms that change how a gold trade is sized, stopped and recorded: gold pips and points, gold lot sizes and contract specifications, spot gold versus futures, gold spreads and swap costs, gold margin and leverage, and drawdown as it applies to a volatile metal that can travel thirty dollars in a single London session.
Gold is not a currency pair and does not behave like one. One standard lot of XAUUSD is 100 troy ounces, meaning a one dollar move in the gold price is approximately one hundred dollars on a full lot. Most brokers quote gold to two decimal places, so a movement from 2410.00 to 2410.10 is ten pips by the common gold convention and not one pip as an FX trader would assume.
Every definition on this hub is written against a live MetaTrader 5 ticket rather than a textbook, links through to the calculator or guide that applies it, and is checked against the fact that contract size, symbol naming and margin requirements are all set by the individual broker and must be confirmed in the terminal before any position is sized.