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 Replies: 9 / Views: 5,307 |
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Pillar of the Community
United States
1314 Posts |
This was a screen shot using two monitors so that there was no time differential. Yet there is a significant difference in price quotes. Why?  |
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Pillar of the Community
United States
2213 Posts |
I don't know a lot about it but it depends on several things, which exchange they use, Comex, London, Shanghai, etc. Trading happens very fast with computers. It may depend how often a dealer web site updates the data and/or which spot price tracking source they use. Spot prices are determined by futures contracts I think. Dealer spot prices often vary but not by much percentage wise. Spot price differences do not concern me a lot when I buy, it's dealer price I look at.
Edited by livingwater
05/14/2024 09:31 am
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Pillar of the Community
United States
1747 Posts |
It is probably live spot vs futures contract. I see the same difference scrolling across the bottom of the screen on business news.
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Bedrock of the Community
United States
10982 Posts |
The Kitco bid and ask prices are essentially equal. That is not correct.
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Pillar of the Community
United States
2023 Posts |
This is the answer - Staff.Kitco says it uses the New York market price. APMEX says (in the FAQs lower on the page): "Gold is traded worldwide across many different exchanges - the most popular being Chicago, Hong Kong, London, New York, and Zurich. The COMEX is part of the CME Group in Chicago and is the most important exchange for determining the price of gold. The gold spot price and silver spot price are computed using data from the futures contracts traded on the Comex."
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Pillar of the Community
 Canada
5391 Posts |
It is really irrelevant unless you are pulling the trigger .
The only price that matters... what you end up
paying .
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Pillar of the Community
 United States
1314 Posts |
Thank you all for the very informative replies.
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Pillar of the Community
 United States
4587 Posts |
Remember, spot price is NOW.
Futures contracts are futures. It might be near future (the May 2024 contract will settle on the 24th as the 27th is a holiday), but there is always SOME time-based risk.
-----Burton 50+ year / Life / Emeritus ANA member (joined 12/1/1973) Life member: Numismatics International, CONECA Member: TNA, FtWCC, NETCC, EveryCountry (online) coin club Owned by three cats and a wife of 40+ years (joined 1983) Author: 3rd Edition of the Sample Slabs book, https://www.sampleslabs.info/ |
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Moderator
United States
187446 Posts |
Quote:
The only price that matters... what you end up paying .  |
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Valued Member
United States
311 Posts |
You'll need to constantly comparison shop and factor in your mode of payment. Also for an accurate spot price, don't rely on the spot price that is given by someone that is also buying and selling gold. I use: https://www.barchart.com/futures/qu...dyheight=100 |
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Replies: 9 / Views: 5,307 |
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Posted 05/14/2024 10:52 am
