London Gold prices are generally quoted in US dollars per ounce. When Lucky Gold users check London Gold prices, they may interpret real-time quotes together with the trading specification of 100 ounces per standard lot. This makes it easier to understand what price rises or falls mean for different lot sizes.

I. What do the figures in London Gold quotes stand for

Assume the London Gold quote is 4400 US dollars. This figure first represents the market price per ounce of gold. It does not mean trading 1 lot only costs 4400 US dollars, nor does it mean 4400 US dollars is directly used as the trading lot size in the account. The trade size needs to be calculated separately based on the contract unit.

II. How many ounces are in one lot of London Gold at Lucky Gold

One standard lot of London Gold on Lucky Gold equals 100 ounces, with a minimum tradable lot of 0.01 lot. Therefore: 1 lot equals 100 ounces. 0.1 lot equals 10 ounces. 0.01 lot equals approximately 1 ounce.

With this conversion, you can quickly calculate price movements.

III. How much profit or loss does a 1-US-dollar rise in London Gold bring

Suppose London Gold moves from 4400 US dollars to 4401 US dollars. The price changes by 1 US dollar per ounce. Calculated for different lot sizes: 1 lot 100 ounces multiplied by 1 US dollar, equivalent to a price change of around 100 US dollars. 0.1 lot 10 ounces multiplied by 1 US dollar, equivalent to around 10 US dollars. 0.01 lot Approximately 1 ounce multiplied by 1 US dollar, equivalent to around 1 US dollar.

This explains why the same London Gold price trend results in different monetary changes for different lot sizes.

IV. Why there are two numbers for real-time prices

Trading terminals usually display bid and ask quotes on two sides. There is a certain price gap between them. The base spread for London Gold on Lucky Gold is 15 US dollars per standard lot.

Therefore, after opening an order, even if the market price has not shifted noticeably, the order figure in your account may first reflect the gap between bid and ask prices.

V. Why news prices may differ from terminal prices

Gold prices reported in news usually refer to a snapshot at the time of publication. By contrast, prices on trading terminals keep updating continuously with the market.

For example, gold was around 4450 US dollars in the early hours of August 18, while the nearby gold futures settled at 4366 US dollars in the New York session. It is quite normal to see discrepancies when comparing morning news figures with real-time terminal prices at night.

VI. How much price movement counts as one point

The minimum price fluctuation of London Gold on Lucky Gold is 0.01 US dollar. Thus, a move from 4400.00 to 4400.01 is one minimum price tick.

Based on 100 ounces per lot, this change equals approximately 1 US dollar. If the price moves from 4400 to 4401, that is a shift of 100 minimum price ticks.

The most practical conversion method for London Gold prices

You only need to remember two sets of figures: 1 lot equals 100 ounces. A 1-US-dollar price change brings around 100 US dollar movement for 1 lot.

Then scale down proportionally for 0.1 lot or 0.01 lot, and you can quickly understand London Gold quotes.