How pip value is calculated for XAU/USD
Gold (XAU/USD) is quoted in US dollars per troy ounce. This calculator uses the common convention of one pip = 0.01 and one standard lot = 100 ounces, so one pip on one lot is worth $1.00, and a $1.00 move in the gold price is 100 pips. Brokers differ: some call $0.10 a pip, and contract sizes vary, so check your platform's specification before relying on the number.
Worked example
Holding 1 standard lot of XAU/USD:
0.01 × 100 = $1.00
One pip is worth $1.00. A 500-pip move is worth $500.00 on one lot, $50.00 on a mini lot and $5.00 on a micro lot.
These are the calculator's default inputs above, so its result matches.