I recently became interested in silver and gold (XAG/USD and XAU//USD) as I noticed they have a high volatility like cross pairs, but even more.
I have a question to ask, if for example, XAU/USD dropped from 1204.000 to 1170.000 (June 17-June 25), that is a 3400 pip change?!
Using the oanda calculator, that would be a $3.4M profit on 1 standard lot…
So if you normally trade mini or standard lots on major currencies, what would be the equivalent to that on XAU/USD or XAG/USD?
Are there any tips to follow or keep in mind when trading these? Thanks