Pip
The usual smallest price move, and the basis of every profit and loss figure.
Last updated: September 4, 2026
What a pip is worth in dollars depends on the instrument and your lot size: a $0.01 move in gold is $1 per full lot. Brokers do not agree on a single definition - some count one decimal place, some two - so check your own broker's contract specification before relying on any figure.
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