Current Precious Metal Spot Prices
Understanding Spot Price
The spot prices of the various precious metals are the constantly changing prices at which they are traded on the global market. Unlike futures prices, spot prices indicate the value of precious metals for immediate delivery. The spot price for a commodity fluctuates throughout the day as they are traded, and the price freezes when markets close. (In the U.S., most commodities markets close at 5:15 pm EST.) This is the “closing price,” which will be the starting point for trading the next day. The closing price on one exchange, however, does not necessarily match subsequent trading prices on other global exchanges.
Spot prices are the benchmark used by financial institutions, precious metals dealers, and investors to calculate the price at which varying precious metal products are bought and sold. Whether they are physical products (such as bars, coins, or bullion) or financial instruments (such as ETF shares), the spot prices of precious metals are the basis for how those products are sold and traded on the open market.