What is spot price?

What is “spot price”? What is “spot price”? Bid/Ask Price— The spot price is determined by futures contracts. As the name suggests, these are contracts for delivery at a point in the future. However, when you purchase from us or another dealer, you do not want your item in several months, you want it as soon as possible.

What is the spot price of gold?

The spot price of gold refers to the price of one ounce of gold and the spot price of silver refers to the price of one ounce of silver. Gold and silver must be of specific fineness requirements. What Are Futures Prices? The futures prices of a commodity are contracts that designate a price for future delivery of the commodity.

What is a bullion market?

A bullion market is a market through which buyers and sellers trade gold and silver as well as associated derivatives. An ingot is a material that has been cast into a shape in order to be transported and processed easier than in an unprocessed form.

What is unparted bullion?

Bullion that contains more than one type of metal, is called "unparted bullion." Bullion refers to physical gold and silver of high purity that is often kept in the form of bars, ingots, or coins. Bullion can sometimes be considered legal tender, and is often held as reserves by central banks or held by institutional investors.