how do you count pips on gold?

A). 1 lot of xau/usd = 100 ounces of gold

B). xau/usd price is always quoted to 2 decimal places (for example 2500.05)

C). xau/usd changes in sequences of 0.01 (meaning 2 decimal places)

D). For a standard lot, the value of 1 pip in xau/usd is (0.01 x 100 ounces) = $1

E). If xau/usd price moves from 2500.05 to 2500.06 it has moved 0.01 or 1 pip, if it moves from 2500.05 to 2500.15 it has moved 0.10 or 10 pips. Since for a standard lot of xau/usd every pip movement is worth $1 then a 10 pip move will mean a profit or loss of $10.

F). For example, if you are trading 0.05 lot size of xau/usd and the price moves 5 pips in your favour, your profit will be (0.05 lot x $1 x 5 pips) = $0.25

Summary

At first glance, xau/usd pip value may not seem like a lot because for a standard lot every pip movement is worth just $1 but xau/usd price moves in bursts, covering several pips in a few minutes leading to significant damage if you are on the losing side.

Hope this helps!