What unit is used for precious metals like gold (XAU)?
XAU represents one troy ounce of gold, which is the standard unit used globally in the precious metals market.
What is a troy ounce?
- A troy ounce is different from a regular (avoirdupois) ounce used in everyday measurements.
- 1 troy ounce = ~31.1035 grams
- 1 regular ounce = ~28.3495 grams
What should I enter?
When adding gold, silver, or other precious metals:
- Enter the amount in troy ounces, even if the field shows “OZ”.
- This ensures the value aligns with market pricing and is calculated correctly.
Why it matters:
Precious metals are always traded in troy ounces. Entering amounts in regular ounces can result in inaccurate portfolio values.
If in doubt, check the label on your bullion or metal holdings—they almost always use troy ounces.