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Gold Swap Calculator

Work out the overnight swap on an XAUUSD position: per night, per week and for your whole holding period, with the triple-swap day counted three times.

Example swap rates are hypothetical. Copy your broker's Swap Long and Swap Short from the XAUUSD contract specification. Negative = you pay, positive = you receive. Weekend nights carry no swap; the triple-swap night covers them.

Total swap—
Swap per lot per night
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Per night (your size)
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Per week (5 nights, one tripled)
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Triple-swap nights in your period
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Required margin
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Swap as % of margin
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Gold move that equals the swap
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What rollover and swap are

A spot gold trade at a CFD or forex broker never actually settles. At the end of each trading day, usually 5 pm New York time, the broker rolls your position to the next day and applies a financing charge or credit called the swap. In effect, a long gold position borrows dollars to hold an asset that pays no interest, so when dollar rates are above zero the long side normally pays. A short position is the mirror image and can receive a small credit, minus the broker's mark-up.

The swap rate is set by the broker, changes over time with interest rates, and is written in the contract specification for XAUUSD. Two brokers can quote very different numbers for the same market, which is why this calculator asks you to type your own.

Why Wednesday is charged three times

Spot metals settle on a T+2 basis. When a position is rolled on Wednesday evening, its value date moves from Friday to Monday, so the roll has to cover Saturday and Sunday as well. Brokers handle this by charging three nights of swap on Wednesday and none at the weekend. Some brokers apply the triple on Friday instead; the drop-down above lets you choose. Over any full week the total is the same: five swap nights, one of them tripled, equals seven nights of financing.

A quick test: if you are planning to hold gold over Wednesday night, the swap that night is three times the normal figure. Many swing traders avoid opening late on Wednesday for exactly this reason.

How swap is quoted in MT4 and MT5

  • In points. The most common form. One point on XAUUSD is usually $0.01 of price. Dollars per lot per night = points × point size × ounces per lot. 45 points × $0.01 × 100 oz = $4.50.
  • In money (quote or deposit currency). The figure is already in currency per lot per night.
  • In percent. An annual interest rate applied to the position value, divided by 360 or 365. Convert it to a per-night amount before using this page.

Whichever format your platform shows, confirm the 3-day swap field in the specification. It tells you which weekday carries the triple charge.

Swap-free accounts

Some brokers offer swap-free accounts, often described as Islamic accounts, that neither charge nor pay overnight financing. The cost does not disappear. It usually returns as a wider spread, a fixed fee after a set number of days, or restrictions on holding time and instruments. Whether such an account is cheaper depends entirely on how long you hold positions, so compare the total cost over your typical holding period rather than the headline swap alone.

Putting swap in context

For a day trader who is flat by 5 pm New York, swap is irrelevant. For a position trader it is a steady leak. On 1 lot at −$4.50 per night, a four-week hold costs about $126 (28 nights of financing). Compare that with the average daily range: gold can move that much in minutes, so swap rarely decides whether a trade wins, but it does set a hurdle the trade must clear. Include it in the profit calculator when you plan a multi-day trade, and record it in your journal so the real cost of your style is visible.

Frequently asked questions

What is swap in gold trading?

Swap (also called rollover or overnight financing) is the amount your broker charges or pays when you hold a leveraged gold position past the daily rollover time, usually 5 pm New York time. It reflects the interest-rate difference between the US dollar and gold (which pays no interest), plus the broker’s mark-up. On most accounts the long swap on gold is negative.

Why is swap charged three times on Wednesday?

Spot gold settles two business days after the trade (T+2). A position rolled over on Wednesday night settles on Friday, and rolling it again moves settlement to Monday, which spans the weekend. So Wednesday’s rollover carries three days of financing. Some brokers use Friday instead; check your contract specification.

How do I read swap in MT4 or MT5?

Right-click XAUUSD in Market Watch, open Specification and look for Swap Long, Swap Short and Swap Type. If the type is in points, multiply by the point size (usually $0.01) and the contract size (usually 100 oz) to get dollars per lot per night: 30 points × $0.01 × 100 = $3. If the type is in money, the number is already in the account or quote currency per lot.

Is a positive swap possible on gold?

Yes, usually on the short side when US interest rates are high, because a short gold position is effectively long dollars. The size depends on the broker’s mark-up, and some brokers show negative swap on both sides.

What is a swap-free account?

An account that does not charge or pay overnight swap, often offered for religious reasons (sometimes called an Islamic account). Brokers usually recover the cost another way, for example a wider spread, a fixed administration fee after a number of days, or limits on how long positions can be held. Read the terms.

Does swap matter for day traders?

Not if every position is closed before the rollover time. It matters a lot for swing and position traders: on a 1-lot gold trade held for a month, a −$5 per night swap with the Wednesday triple adds up to roughly −$150. Use the calculator above for your own figures.

Keep learning

Educational tool only. Not financial advice and not a signal. Check your own broker's contract specification, margin rules and costs. Past data does not predict future prices. See our risk disclaimer.