How do I Count Pips in Gold and Silver?

Beginner Questions
1

i’ve been wondering how do i count pips with these pairs? they seem to have a different numbering system than the others save for the yen pairs. i just made a trade that went from 1550.81 to 1540.00, yielding me 10.81…but is that 10.81 pips or 108.1 pips? thanks in advance

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2

it’s the same as when you count anything else, you go 1,2,3,4,5,6,7,8,9,10,11 etc etc.

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3

you’re saying i got 10.81 pips then? that’s interesting how i traded two other pairs this week along with gold, all with 0.05 lots and where the others yielded 50 to 75 pips at about 50 to 65 cents per pip, gold yielded just 10.81 pips at exactly 5 dollars a pip. cool!

4

i just spoke with live chat who explained that, in their mt4 platform, that gold and silver are represented in us dollars and cents. so no fancy pip calculations with gold and silver : (

maybe i can make a new name for it though like…shmips!!! so in the above example the shmip value would be 5

5

Both the Gold and Silver are available for trading in the Meta Trader 4 terminals.

Gold = XAUUSD

Silver = XAGUSD