What is spot price?

Spot price is the price traders pay for instant delivery of an asset, such as a security or currency. They are in constant flux. Spot prices are used to determine futures prices and are correlated to them. An asset can have different spot and futures prices. For example, gold may have a spot price of $1,000 while its futures price may be $1,300.

What is the spot price of gold?

The spot price of gold refers to the price of one ounce of gold and the spot price of silver refers to the price of one ounce of silver. Gold and silver must be of specific fineness requirements. What Are Futures Prices? The futures prices of a commodity are contracts that designate a price for future delivery of the commodity.

What is the difference between a spot price and futures price?

In particular, the difference between the spot price of a commodity and the price of futures contracts covering the same commodity plays a major role in defining how a particular commodity market behaves. Let's take a closer look at what a spot price is and why it's important in the commodity futures markets.

What is the spot price of silver?

What is the Spot Price of Silver? Silver Spot Prices Silver Price Spot Change Silver Price Per Ounce $24.85 $0.85 Silver Price Per Gram $0.80 $0.03 Silver Price Per Kilo $798.95 $27.33