What Does "Spot Price" Actually Mean? - Back To Basics
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- Опубликовано: 2 апр 2024
- Spot price is a term we throw around a lot on our videos, disussions on stream and talking with customers in the shop, but what if you're only just checking gold & silver for the first time? What actually is spot price? Michael explains!
Need to buy gold or silver in Melbourne, Australia? Come see Bullion Now for all your gold and silver bar and coin needs, now located right in the heart of the city! Need something a bit more special? Little Coin Shop has you covered with the best collection of collector's items!
If you wanted more info from our team, please call 1300 84 84 10, or email us at sales@bullionnow.com.au
And if you need to sell gold, silver or other precious metals... we pay 100% of spot price. To our knowledge, that's the best in the business.
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Love the videos. Appreciate the effort the bullion now team puts into education. Also, Michael and the Little Coin Shop teams are legends. The team sourced a coin I thought I had missed out on, very much appreciated.
Very comprehensive Michael! Thankyou for that 😊👍🏻
Excellent video, Michael.
Next video an explanation of premium please
Great video Micheal. Love how you make everything so simple that everyone can understand. Top video! 👍🏻😊
Spot = Objective.
Premium = Subjective.
Good information, thanks Michael
Spot price is what comex allows it to be with fake paper silver purchases
@5:10 you are referring Ainslie, I get better price from bullions now every time 😊
Wild watching gold go up $350 last month, nice.
Nice Info
Does any dealer pay above spot or is 100% spot the best price anyone pays? Thanks for the education.
not in australia unfortunately, as a matter of fact most pay you less than spot, if you want more than spot, you'll have to sell it to regular people, not a bullion / gold business
Gold can be pass down for many generations. Don’t stress with the numbers 😊
So if bullion now pays spot, which price is paid, bid, or ask?
ask, the highest of the two
Why do Australian news channels show price of gold in US $ it means nothing to me if I still need to convert it
It's the default coin of the Gold Realm, like the English language is the default language for business.
People should be more concerned with the retail price. Spot price is a whole price for buying contract for large quantities of the metal that excludes many other costs to bring it to the retail market.
Hi all, I have a very basic knowledge of precious metals trading.
When selling gold , does the spot price vary depending on the purity of the gold? Ie 9ct , 18ct etc.
Many thanks in advance 👍
Hey! The answer is yes and no! The spot price used to calculate the price given to you will be the same, but the end amount you receive will be slightly different. The different carat ratings equate to percentages of purity, for example 9ct gold is actually only 37.5% gold. So you would still be paid based on the spot price, it would just be on that 37.5% gold portion. (if gold for an ounce was $3000 and you sold back an ounce of 9ct gold, you would receive $1,125) Hope that makes sense! Let me know if we need to clarify anything!
That makes total sense! Thank you very much 😊
Cool
I always just go buy your unallocated price
That’s good if you only deal with bullion now
Newbies, don't get mixed up with American dollars when going to sell. Recently told of a guy who sold gold to a buyer thinking the American dollar price was Australian dollars, the BS BUYER payed him the American price in Australian dollars. In other words buyer ripped sell Off.
So true , I always keep an eye on the exchange rate .
Check out the selling prices.....BEFORE Buying Anything.....when it's melted down it's metal.
To save the queue’s out the doors at bullion now and clogging up the phone lines, just simply do a RUclips or Google search for your answers please people 😂
There is more wealth, and life, in a kilo of garden soil than there is in single gram of gold.
Gold, like bitcoin, is just another tulip to be manipulated. Invest your money elsewhere and build a garden.