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WHAT IS THE SILVER / GOLD PRICE TODAY?

Scottsdale Mint’s silver and gold price chart shows you the real-time spot price in the professional silver and gold bullion market. You can then purchase at those same prices with Scottsdale Mint. We give you the fastest updates online, with live data processed about every 10 seconds—there’s no need to refresh your browser. This chart also gives you more than 30 years of historical data, so you can see the long-term trend.

WHAT IS THE SPOT PRICE OF PRECIOUS METALS?

The spot price is the price at which a precious metal may be exchanged and delivered upon now determined by the paper trading market. (In other words, the price at which gold, silver, platinum, and other precious metals are currently trading in the paper market.) Spot prices are often referenced in the gold and silver markets, but they also impact crude oil and other commodities. Price is in a never-ending flux of market discovery, and is monitored by banks, financial institutions, dealers, and retail investors.

All of the products on our website are based on a premium to spot price. You’ll notice that prices update every few seconds during market hours—this allows customers to invest based on the most up-to-date market conditions possible.

Precious Metals SPOT PRICE FAQ

How are the precious metal spot prices calculated?

Gold, silver, platinum, and other precious metals are commodities that trade virtually 24 hours per day across multiple exchanges, including New York, Chicago, London, Zurich, and Hong Kong. However, the most important exchange for determining precious metal spot prices is COMEX, where prices are calculated using the near term futures contract price. (By near term, that may mean the front month contract, or the nearest contract with the most volume.) 

How often does the spot price change?

The price of precious metals is constantly changing, as they’re traded during market hours by millions of investors and businesses. Between domestic and foreign exchanges, spot prices update Sunday through Friday, from 6PM EST to 5:15PM EST each day. Spot prices remain static during that 45-minute period from 5:15PM EST to 6PM EST on those days. 

The market can have many periods that are quiet, followed by highly volatile trading periods.

What currency is the spot price quoted in?

Spot prices are usually quoted in U.S. dollars (USD). However, markets all over the world can trade the spot price in USD and then convert into into their local currency.

What does the spot price mean?

The spot price is quoting the current trading market price for 1 troy ounce of .9999 fine gold, 1 troy ounce of .999 fine silver, or .9995 of fine platinum.

Are spot silver prices the same all over the world?

Yes. The spot price of gold, silver, platinum, and other precious metals are the same across the world, even if it’s converted from USD to local currencies.

Why can’t I buy at the spot price?

Precious metals are sold by dealers with a premium to the current spot price. When looking to sell metals to a dealer, the dealer may offer spot or slightly below the spot price for metals. When buying precious metals, there’s an additional charge called the premium, which is the real world cost to take precious metals from the ground, refine them, and mint them into a final retail product.

Even refineries and mints don’t buy precious metals at the spot price. They also have premiums that they have to pay to acquire the physical metal about the spot price. These costs all get worked into the final retail price or premium.

What is the difference between bid and ask prices?

The bid price is the maximum offer available for a particular commodity at the present time. The ask price is the minimum asking price available for a particular commodity at the present time. More simply: If you want to buy, you pay the ask price; if you want to sell, you receive the bid price.

The difference between the two is referred to as the “bid-ask spread” and is often a reliable indicator of an investment’s liquidity. The smaller the bid-ask spread is, the more liquid a commodity, and the less transaction fees an investor will incur when getting into and out of investment positions.

What is the difference between bid and ask prices?

The bid price is the maximum offer available for a particular commodity at the present time. The ask price is the minimum asking price available for a particular commodity at the present time. More simply, if you want to buy, you will pay the ask price. If you want to sell, you will receive the bid price.

The difference between the two is referred to as the “bid-ask spread”, and often is a reliable indicator of an investment’s liquidity. The smaller the bid-ask spread is, the more liquid a commodity and the less “transaction fees” an investor will incur when getting into and out of investment positions.