JustChartsWhat Is 1 Lot of Silver (XAG/USD)? Ounces, Kilograms and Pip Value
At most brokers, 1 standard lot of silver (XAG/USD) is 5,000 troy ounces — about 155.5 kg. A $0.01 move in the silver price is worth $50 per lot, and a $1 move is worth $5,000. The common minimum trade, 0.01 lot, is 50 ounces (about 1.56 kg).
Key facts
- 1 lot of silver
- 5,000 oz (≈ 155.5 kg)
- 0.01 lot
- 50 oz (≈ 1.56 kg)
- $0.01 move, 1 lot
- $50
- $1 move, 1 lot
- $5,000
- 1 kg of silver
- 32.15 oz ≈ 0.0064 lot
Silver lot sizes
| Lot size | Ounces | Kilograms | $0.01 move | $1 move |
|---|---|---|---|---|
| 1.00 | 5,000 | 155.5 | $50 | $5,000 |
| 0.10 | 500 | 15.55 | $5 | $500 |
| 0.01 | 50 | 1.56 | $0.50 | $50 |
The 5,000-ounce lot mirrors the COMEX silver futures contract. Some brokers use smaller silver lots (1,000 oz is also common), so always check the contract size.
How many lots is 1 kg of silver?
1 kg = 32.15 troy ounces, and 32.15 ÷ 5,000 = 0.0064 lots. That is smaller than the usual 0.01-lot minimum (50 oz), so at a 5,000-oz broker you can’t trade exactly 1 kg of silver — the smallest trade is about 1.56 kg. This is one of the most common surprises for new silver traders.
Why silver positions feel bigger than gold
Silver is cheaper per ounce but its standard lot holds 50 times more ounces than gold’s 100-oz lot. At $30 per ounce, one silver lot is a $150,000 position, and silver often moves 2–4% in a day — a $3,000–$6,000 swing per lot.
Margin for silver
Margin = silver price × 5,000 × lots ÷ leverage
At $30 and 1:10 leverage (the usual retail cap for silver in the UK and EU), one lot needs $15,000 margin and 0.01 lot needs $150.
Compare with 1 lot of gold and the gold–silver ratio.
Frequently asked questions
How many ounces is 1 lot of silver?
Usually 5,000 troy ounces, matching the COMEX futures contract. Some brokers use 1,000-ounce lots, so check your platform.
How much is 1 pip in silver?
If a pip is a $0.01 move, it is worth $50 per 5,000-ounce lot, $5 per 0.1 lot and $0.50 per 0.01 lot.
How many lots is 1 kg of silver?
About 0.0064 lots (32.15 oz ÷ 5,000 oz). That is below the usual 0.01-lot minimum, which is 50 oz or about 1.56 kg.
What does XAG mean?
XAG is the code for one troy ounce of silver, from argentum, the Latin word for silver.
Put it into practice
Live charts, an economic calendar and trading calculators — free with a JustCharts account.
Open the live silver chartThis article is for education only and is not financial advice. Trading leveraged products carries a high risk of losing money. Contract sizes, trading hours and leverage limits vary by broker and country — always check your own broker’s specifications.