The spot price is the current market price at which gold is bought or sold for immediate payment and delivery, basically what you would pay “on the spot” rather than at some point in the future. Spot gold prices refer to the “offer price” listed, which is the most recently quoted price in the market at which buyers are willing to buy. This is usually lower than the “sale” price that sellers are currently looking for. Many people want and are constantly wondering: Can I buy gold at a spot price? Most of the time, you can't buy gold at the spot price because the spot price of gold is the spot price of gold to buy and sell with immediate payment or delivery.
It basically means “trading in the field” instead of buying futures. This spot price does not apply to all gold bullion products, mainly because the spot price of gold applies to the theoretical price of raw gold before it is minted in ingots, coins or rounds. In addition, the spot price of gold is an estimate of the price of 1 troy ounce of gold (31.1035 g or 1,0971 oz), so if you buy a larger size, it will vary dramatically with respect to the spot. However, if you want to buy gold at a spot price, you can do so with some products on this page with bullion bags.
Fortunately, you still have close access to spot trading through OneGold. With properly allocated gold and prices very close to those of the spot market, OneGold can help you go to the spot market without having to be there. The dollar and gold tend to be inversely correlated (when the dollar rises, gold falls and vice versa). Therefore, the spot price reflects an equal value for the markets of New York, Chicago, London, Zurich, China and Hong Kong.
Like all investments, buying gold in the spot market works best when you know what you're doing and have confidence in the market. The spot price of gold tends to rise briefly at the beginning of the year, cools during the spring and summer and then rises during the fall and winter. Gold futures are public, regulated exchanges where gold is traded (in the form of contracts) for its expected value at a specific time and place in the future. The spot price of gold is determined by off-exchange (OTC) trading, in which traders usually work individually to carry out independent operations.
Even when the New York Stock Exchange is not open, the spot price of gold changes due to gold trading around the world in different time zones. While the behavior of any currency can affect gold prices, the US dollar is the most important, since the price of gold is universally measured in dollars. But what is the spot price? It's a security that gold traders and holders are constantly evaluating online, including investors who buy gold instruments, such as ETFs and gold coins. All of this means that, in a bit of market alchemy, the spot price is actually a mix of these factors and influences in the short and long term.
While that doesn't seem to be an important factor, it's important to understand that the price of gold will fluctuate more based on future price expectations than based on current supply and demand. When you're researching or reading about the gold market, you're likely to come across different terms that describe the price of gold. The spot price of gold is simply the real price of gold, meaning that it is the price at which gold can be bought and sold right now. In fact, declines in the current price may be a reason to buy more gold if you believe that long-term trends are still bullish.