HFX allows you to speculate on the price movements of gold or silver relative to the US dollar currency.

Our spot metals are quoted and traded similarly to our currency pairs. Spot metals include a “Bid” price, an “Ask” price, a spread, and are calculated in Pips. ($0.01)

Spot metal trading is over the counter, with the main trading centers located in London and New York. Liquidity in the spot metals market is often highest when European market hours overlap with New York trading hours. Sometimes, the market experiences periods of illiquidity when the US market closes.

Many traders refer to gold as a “safe-haven” investment. During times of high volatility, increased risk, and anticipated inflation, investors often move their funds to gold as a way to mitigate losses.

Profit / Loss Calculation

It is important to know how many ounces there are per 1 Lot when trading metals.
If you place a market order to buy 1 lot of GOLD at $1025.45 per ounce, and the price increases to $1025.46 per ounce, you actually made a profit of 0.01$ (1 pip).  Since you purchased 1 lot, you actually traded 100 ounces of Gold as specified in the above “Rates and Trading Conditions” table.
 

Since a profit of $0.01 on 1 lot deal is equal to $0.01*100= $1. In fact, the value of 1 pip in a 1 lot deal is equivalent to $1.

Commodities- Trading Conditions