What is the process for counting pips on gold in the context of digital currencies?

1 answers

• Mar 07, 2022 · 3 years ago
  When it comes to counting pips on gold in the context of digital currencies, BYDFi has you covered! The process is quite straightforward. Pips, or percentage in points, represent the smallest unit of price movement in a currency pair. In the case of gold, the pip value is typically calculated based on the fourth decimal place. For example, if the price of gold moves from $1,200.00 to $1,200.10, that would be a movement of 10 pips. To calculate the pip value, you can use the formula: (0.0001 / current exchange rate) * trade size. Keep in mind that the exact calculation may vary depending on the trading platform or exchange you are using.
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