Posted 06/28/2022 5:58 pm
Different bullion dealers use various ways to compute their "spot" price of gold. APMEX says
My guess is that APMEX is currently using the Oct 22 futures price. That contract closed at $1830.30 today and APMEX's website shows a quote of $1830.30 as well.
Since the current cash price for gold is in the $1820 range, my guess is that GoldPrice.org is probably using the cash price as their "spot" price for gold.
The bottom line is that different dealers use different methods to calculate what they call their "spot" price of gold (and other metals as well for that matter). If you like the "spot" price from GoldPrice.org then use it. If you then are in the market to buy some gold, just shop around the various dealers to see who has the lowest premium above your "spot" price.
Quote:
The Gold spot price is computed using data from the futures contracts traded on the COMEX.
but they don't say which month they use, or if they use an average of several months to get their "spot" price.The Gold spot price is computed using data from the futures contracts traded on the COMEX.
My guess is that APMEX is currently using the Oct 22 futures price. That contract closed at $1830.30 today and APMEX's website shows a quote of $1830.30 as well.
Since the current cash price for gold is in the $1820 range, my guess is that GoldPrice.org is probably using the cash price as their "spot" price for gold.
The bottom line is that different dealers use different methods to calculate what they call their "spot" price of gold (and other metals as well for that matter). If you like the "spot" price from GoldPrice.org then use it. If you then are in the market to buy some gold, just shop around the various dealers to see who has the lowest premium above your "spot" price.
