Under Lucky Gold’s current trading specifications, 1 lot of London Gold equals 100 ounces, and the minimum trading volume per order is 0.01 lot. Therefore, calculated by contract quantity, 0.01 lot corresponds to a trading volume of 1 ounce of London Gold. However, this refers to the contract unit and does not mean the user physically withdraws 1 ounce of physical gold.
What Exactly Is a "Lot"?
Many new traders of London Gold ask: Why are gold market quotes stated in "US dollars per ounce", while orders are placed in "0.01 lot, 0.1 lot, 1 lot"?
The reason is that the quotation unit differs from the trading volume unit. The gold price shows how many US dollars each ounce of gold is worth at present. A "lot" denotes the order size.
For this reason, before placing an order, you must first know how many ounces constitute one lot on the platform.
Conversion for 1 Lot of London Gold
According to the published product trading rules of Lucky Gold: 1 lot of London Gold = 100 ounces.
The conversion is straightforward: 1 lot = 100 ounces 0.5 lot = 50 ounces 0.1 lot = 10 ounces 0.05 lot = 5 ounces 0.01 lot = 1 ounce
When a trader selects 0.01 lot of London Gold, exposure is to price movements equivalent to 1 ounce of gold in terms of contract quantity.
Does This Mean You Have Bought a 1-Ounce Gold Bar?
No.
The order volume for London Gold is not the same as purchasing physical gold from a gold shop. When you trade 0.01 lot of London Gold, your account fluctuates based on the price movement of that 1 ounce. You will not receive a physical 1-ounce gold bar after placing the trade.
When reviewing trading volume, be sure to distinguish between: Contract Quantity | Weight of Physical Gold
Although both use the ounce as the unit, the actual trading workflows are different.
Why Beginners Should Learn the Conversion First
Once you understand what lot size means, many trading concepts become easier to grasp.
For example, if gold moves by 1 US dollar per ounce: 1 lot represents 100 ounces, so its magnitude of price movement is obviously different from 0.01 lot. 0.01 lot corresponds only to 1 ounce.
This explains why when assessing trade risk, it is insufficient to only state "gold rose by 10 US dollars". You also need to know your lot size.
Check Rules Again for Different Platforms
Do not assume all products and platforms use identical settings just because one platform defines 1 lot as 100 ounces.
Before opening an account, review the latest trading rules of your chosen platform. In particular, confirm: Contract unit Minimum trading volume Maximum single order volume Quote precision Spread Trading sessions
These parameters together determine how your orders are calculated.
London Gold Volume Settings on Lucky Gold
Under Lucky Gold’s current trading specifications, the contract unit for London Gold is 100 ounces per lot. The minimum single trade volume is 0.01 lot and the maximum single trade volume is 10 lots.
These terms may be adjusted according to market conditions. Always refer to the latest official trading specifications and announcements before executing trades.
For new London Gold traders, mastering the conversion relationship among "price, ounces and lots" before examining actual orders is far more practical than merely memorizing where the trading buttons are.