What Is the Spot Price of Gold and Silver?
What the gold and silver spot price means, where it comes from, and why finished coins and bars sell above it.
The spot price is the current market reference price for one troy ounce of raw metal for immediate delivery. Coins and bars sell above spot because each product carries a premium for fabrication and distribution.
Where does the spot price come from?
Spot reflects trading in large wholesale and futures markets. It moves throughout the trading day and is quoted per troy ounce in U.S. dollars.
Is spot the price I pay?
No. Spot is a reference for raw metal. A finished coin or bar sells at spot multiplied by its fine troy ounces plus a product premium.
Why do websites show slightly different spot prices?
Data sources update at different moments and may show bid, ask, or midpoint figures. Small differences are normal.
How do I use spot when comparing products?
Multiply spot by the item's fine troy ounces to get its metal value, then compare how much each product costs above that value.
Sources & further reading
External sources provide general education, not an endorsement of this retailer. Store-specific prices and terms are provided on our product and policy pages.