WHAT IS SPOT PRICE?

Spot price is the current market price of a precious metal, such as gold, silver, platinum, or palladium. It represents the value of the metal itself at a specific point in time and is generally quoted per troy ounce.

Because precious metals are traded on global markets, spot prices can change throughout the day as buyers and sellers respond to market conditions. In much the same way that a stock price moves throughout the trading day, the spot price of gold or silver can rise or fall continuously.