Pip Movement For Oil & Gold

hi, just need to check if my calculation for pip movement is correct:

USOIL 82.00 (1 lot)

(.01 / 82.00) x 100,000 = $12.20 per pip


XAU_USD 1195.91 (1 lot)

(.01 / 1195.91) x 100,000 x 1195.91 = $1,000 per pip

correct?

your calculation is wrong mate....here it goes

every lot of crude oil consists of 1000 barrels...the price quoted is per barrel..

for example, if you buy a lot of crude oil @82.50

the trade value would be... 82.50/barrel x 1000 barrels = 82,500 USD

if the price went up by 1 dollar (100cents) and you close your position your trade value @83.50 would be, 83,500 USD

therefore.... 83,500 - 82,500 = 1000 USD on 1000 barrel for 100 points

profit per point = 1000USD/100 points = 10USD/point or cents....

this is the way you calculate for PNL per pip/point for all the instruments...

cheers

i made the wrong assumption on the lot sizes (fixed it at 100,000), when it should be dependent on the instrument.

got it. thank you

1 micro lot (.01) of Gold per 100 pips = 1 USD
1 mini lot (.1) Gold per 100 pips = 10 USD
1 standard lot Gold Per 100 pips = 100 USD or $1 Per pip.

Gold can move $20 or 2000 pips in a day

EDIT to ADD:

$1.oo USD move on the Chart = 100 pips. So if XAU/USD ("spot" Gold) moves up $4.50 - you have a 450 pip move.

Hope this clarifies the rest of your question

here was a message from ODL:


by contract sizes, i suppose that means one lot.

so it looks like, it's going to be different per broker...

The contracts for Crude Oil Prices in Future Markets:


Contract Size: 1,000 US barrels or 42,000 gallons.



Price Quote & Tick Size: Dollars and cents per barrel; minimum tick size is one cent per barrel or $10.00 per contract.



Contract Months: All months.



Trading Specs: Open outcry on NYMEX runs from 9:00 am to 2:30 pm ET. Electronic trading on Globex runs Sunday through Friday 6:00 pm until 5:15 pm with a 45 minute break each day.



Daily Price Limit: $10.00 per barrel or $10,000 per contract. If any contract is traded, bid, or offered at the limit for five minutes, trading is halted for five minutes. When trading resumes, the limit is expanded by $10.00 per barrel in either direction. If another halt were triggered, the market would continue to be expanded by $10.00 per barrel in either direction after each successive five-minute trading halt. There will be no maximum price fluctuation limits during any one trading session.

gold up up for 50pips

any body haven news in gold and oil please reply me