Spot Price

Definition

The spot price is the reference price at which gold trades on international OTC markets for near-immediate settlement. It is quoted in USD per troy ounce (XAU/USD) and updates continuously during market hours. Every local retail price is derived from spot plus a dealer premium, tax and making charges.

Related terms

• Troy OunceThe standard weight unit for precious metals, equal to 31.1034768 grams.→
• XAUThe ISO 4217 currency code for one troy ounce of gold.→
• Bid–Ask SpreadThe gap between the price a dealer buys at and the price they sell at.→
• PremiumThe markup charged above spot to buy physical gold.→

Related guides

• How Gold Prices WorkGold prices are set globally in USD per troy ounce and translated into every local market using exchange rates and purity.→
• Why Gold Prices Change DailyInterest rates, inflation, USD strength, geopolitical risk — the forces behind daily moves.→

More gold terminology

• XAU
• Troy Ounce
• Karat
• Fineness
• Hallmark
• Tola
• Premium
• Bid–Ask Spread
• Gram
• Bullion
• LBMA