Decoding Precious Metals: What is Spot Price?
Micheal Kors10 Apr, 2023Business
When you hear people talk about the ?spot price? when discussing precious metals, they are referring to the current market price of one troy ounce of gold, silver, or other metal type. The supply and demand for that precious metal in the market determines that price and it is quoted in US dollars per ounce. The spot price varies throughout each day by several dollars or more within the same day.
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