How do I calculate required margin for Precious Metals (Gold and Silver) trades?

Margin Required = Volume in Lots x Contract Size x Price x Margin Requirement.

When trading Gold and Silver, the contract size is 100oz and 5,000oz respectively. Platinum and Palladium are also 100oz, like Gold.

Example: CAD MT4 Account with 1:100 leverage. Sold 1 lot XAUUSD at 1,364.63.

1. 1 Lot x 100 x 1,364.63 x 1% = 1,364.63 Required Margin. 
2. Note that maximum leverage for precious metals is 1:100. Therefore, margin requirement will be no lower than 1%. 
3. XAUUSD uses USD for margin currency, which will need to be converted into the account currency. This can be done by multiplying 1,364.63 by the USDCAD rate, which is 1.30410. 
4. 1,364.63 x 1.30410 = 1,779.61 Required Margin in CAD.