The short answer
Gold’s swap is usually charged three times on Wednesday because of the two-day settlement rule.
- A spot gold price is for settlement two business days after the trade. Traders call this T+2.
- When a position is rolled from Wednesday to Thursday, its settlement date moves from Friday to Monday, which is three calendar days.
- So many providers charge three nights of swap at the Wednesday rollover.
Say “usually”: your provider sets the triple day for each symbol. Check your symbol’s Specification. The steps are below.
Want the number for your trade? Use the gold swap calculator.
What a swap is (in one paragraph)
A leveraged gold position is like borrowing to hold gold (on a buy) or borrowing gold to sell it (on a sell). Holding it overnight has a financing cost, or sometimes a credit. Your provider charges or pays it at the daily rollover, usually around 5 pm New York time, as the swap. Trades closed before the rollover pay no swap. More on all three costs in our guide to spreads, commissions and swaps.
Why Wednesday: the T+2 calendar
In the wholesale London gold market, “spot” is for delivery two business days ahead. The LBMA’s OTC guide describes a forward price as one “for delivery of metal further ahead than two business days”, that is, beyond the spot date. Rolling a position one night really means moving its value date (settlement date) forward.
| Rollover night | Value date moves from | To | Days financed |
|---|---|---|---|
| Monday → Tuesday | Wednesday | Thursday | 1 |
| Tuesday → Wednesday | Thursday | Friday | 1 |
| Wednesday → Thursday | Friday | Monday | 3 |
| Thursday → Friday | Monday | Tuesday | 1 |
| Friday → Monday | Tuesday | Wednesday | 1 |
That’s why the weekend is charged on Wednesday, not on Friday. Holding over the actual weekend (Friday to Monday) is a normal one-night swap.
Two things can change this on your account:
- Your provider’s choice. Some symbols use a different day. The specification is the rule, not this table.
- Holidays. Around public holidays, value dates can shift, and providers may adjust the swap. Watch your provider’s holiday notices.
How to find your triple-swap day
| Platform | Where | What to look for |
|---|---|---|
| MT5 | Right-click gold in Market Watch → Specification | Swap rates by weekday. The day with 3 is the triple day. |
| cTrader | Symbol info | 3-days swaps weekday |
| EA / code | SymbolInfoInteger(_Symbol, SYMBOL_SWAP_ROLLOVER3DAYS) |
MetaQuotes’ MQL5 reference: “The day of week to charge 3-day swap rollover” |
MetaQuotes’ MQL5 reference also lists the per-weekday ratios (SYMBOL_SWAP_MONDAY to SYMBOL_SWAP_SUNDAY), with values 0 (no swap), 1 (single) and 3 (triple). That’s what the Specification window shows as swap rates.
Worked example: what it costs
All rates are example numbers. The maths was checked by script.
- Position: buy 0.50 lot of gold (50 ounces).
- Long swap: −$40 per lot per night. So 0.50 lot pays −$20 a night.
| Holding | Rollovers | Nights charged | Swap |
|---|---|---|---|
| Opened and closed Tuesday | 0 | 0 | $0 |
| Thursday → Friday | 1 | 1 | −$20 |
| Wednesday afternoon → Thursday morning | 1 | 3 | −$60 |
| Friday → Monday | 1 | 1 | −$20 |
| Monday → next Monday (5 rollovers) | 5 | 7 | −$140 |
So a one-night trade can cost three times as much just because of which night it was. A week-long trade pays seven nights of swap, even though gold only trades five days.
Per ounce: how far gold must move to cover it
$40 per lot = $0.40 per ounce per night. On a triple night, that’s $1.20 per ounce. Gold has to move $1.20 in your favour just to pay for that one night, before the spread. On a tight intraday target, that matters. On a $50 swing target, it’s small.
The other side
If the short swap on your symbol is, say, +$5 per lot per night (a credit, example), a 0.50 lot sell receives $2.50 a night and $7.50 on Wednesday. On gold, swaps are often negative on both sides; it depends on interest rates and your provider.
When it matters, and what traders do
- Swing traders holding for days should budget 7 nights a week, not 5. Our P&L guide shows how swap fits into the total.
- Intraday traders who close before 5 pm New York pay no swap at all.
- Hedged (“locked”) positions can pay swap on both legs, so the triple night hits twice. See hedging vs netting in MT5.
- Some traders close before the Wednesday rollover and reopen after. That saves swap but costs a second spread, and the market has a short daily break around then with wide spreads. See spread widening at rollover. It’s a trade-off, not a free saving.
- Prop-firm accounts have swap too; read the account’s conditions. See the prop rules nobody reads.
“My swap was bigger than I expected”: checks
- Was it the triple night? Check the date in your History.
- Is the swap set in points rather than dollars? Your Specification shows the swap mode; the swap calculator converts.
- Did your provider change the rate? Swap rates move with interest rates.
- Was it around a holiday?
- On a non-dollar account, did the conversion change it? See why my profit is less than the calculator said.
Swap, spread and commission: not the same cost
| Cost | When you pay it | Depends on |
|---|---|---|
| Spread | Every time you open (built into the price) | Market conditions; wider at rollover and on news |
| Commission | Per lot, on some account types | Your account type |
| Swap | Only for positions open at the daily rollover | Direction (buy or sell), interest rates, your provider; tripled once a week |
A day trader mostly pays spread and commission. A swing trader pays all three, and the swap grows with every night held. That’s why the same strategy can be cheap on one timeframe and expensive on another. Our account types page compares spread and commission set-ups.
Checklist
- ☐ My symbol’s triple-swap day (from Specification): ________
- ☐ My long swap: ____ per lot; short swap: ____ per lot
- ☐ Nights I’ll be charged for this trade: ____
- ☐ Swap per ounce vs my target: worth it? ☐ yes ☐ no
Sources (checked 5 November 2026)
- MQL5 Reference, Symbol properties: SYMBOL_SWAP_ROLLOVER3DAYS “The day of week to charge 3-day swap rollover”; SYMBOL_SWAP_MONDAY…SUNDAY ratios (0, 1, 3).
- LBMA, The OTC guide: frequently asked questions: forward price “for delivery of metal further ahead than two business days”.
- Swap rates, lot size and the short-side credit are example numbers; the maths and the value-date calendar were checked by script.
Educational content only, not financial advice. Trading gold with leverage carries a high risk of loss.
Frequently asked questions
Why is swap tripled on Wednesday for gold?
Spot gold settles two business days after the trade (T+2). A position rolled from Wednesday to Thursday moves its settlement date from Friday to Monday, across the weekend, so it carries three days of financing. Many providers charge that in one go on the Wednesday rollover.
Is the triple swap always on Wednesday?
Usually for gold, but not always. The day is set per symbol by your provider. In MT5, open the symbol’s Specification and look at the swap rates by weekday: the day with a ratio of 3 is the triple-swap day.
How much is the triple swap on gold?
Three times your normal nightly swap. For example, if your long swap is −$40 per lot per night, a 0.50 lot buy pays −$20 on a normal night and −$60 on the triple night. Your real rates are in your symbol’s Specification.
Do I pay triple swap if I close before rollover on Wednesday?
No. Swap is charged only on positions still open at the daily rollover, usually around 5 pm New York time. A trade opened and closed within the same day pays no swap.
Can the triple swap be a credit?
Yes, if the swap on your side of the trade is positive, you receive three days of it. On gold, swap is often negative on both sides, but it depends on interest rates and your provider.
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