XAUUSD is the code for one troy ounce of gold priced in US dollars. It is not a currency pair, and most retail platforms offer it as a CFD or metal contract, so contract size, leverage and margin rules differ from FX majors. Its pip convention is also different: many brokers quote two decimal places and treat a move of one dollar as a larger number of points, so the pip definition has to be read from the specification rather than assumed.
Forex glossary
XAUUSD (Gold)
Related term
JPY Quote Convention
Pairs involving the Japanese yen are quoted to two decimal places rather than the usual four, because the value of a yen unit is small. A pip on USDJPY is there…
Spotted an error or a missing nuance?
Definitions are written by us and corrected when we are told we are wrong. If your broker quotes differently — especially on gold — say so and we will record the assumption.