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Live price of gold?

KUCHKUCH Posts: 1,186
in Precious Metals
There is a vast difference on the live price of gold shown on Kitco and Goldseek.

This am: Kitco shows -.10
Goldseek shows -6.10

Why such a difference in the live spot price? Just wondering.image

Comments

  • PerryHallPerryHall Posts: 46,122 ✭✭✭✭✭
    Kitco shows gold down $6.40.

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    I show it up 2.20 to 1164.40
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • KUCHKUCH Posts: 1,186
    See what I mean...... Whom can you trust? Ha

    Let's just set our own price - $1,650 oz of gold as of 14:00 hrs Zulu time!image
  • CaptHenwayCaptHenway Posts: 32,128 ✭✭✭✭✭


    << <i>There is a vast difference on the live price of gold shown on Kitco and Goldseek.

    This am: Kitco shows -.10
    Goldseek shows -6.10

    Why such a difference in the live spot price? Just wondering.image >>



    What were the times on the quotes?
    Has been zig-zagging up and down.
    D
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • derrybderryb Posts: 36,795 ✭✭✭✭✭
    I work with Kitco's spot.

    Current spot linky for those that don't have it saved

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,108 ✭✭✭✭✭
    The problem is that gold continues to trade after the futures close at 1:30pm. So gold may be down $6 from that time.

    What matters is the actual price, not whether it is up or down from the previous day.

    FWIW--My quotes are linked directly to the markets so there is no time delay.

    Price as of this edit is 1164.40.
    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • DrBusterDrBuster Posts: 5,378 ✭✭✭✭✭
    Up $2.10 on apmex quotes
  • RGJohnRGJohn Posts: 402
    Perhaps the differences are due to things like timing (at what time was that price correct?) and how often the numbers are updated. PMs all seem rather volatile lately and I've noticed that the London fix can be $10-$15 different from spot at times.
    Also, refinerychic made some remarks in another thread that suggest that Kitco uses their numbers for advertising purposes. Could be I guess.
    I noticed this past week that in India gold by the gram was quoted at such a price in rupees that with the exchange rate ( another very fluid concept) one seemingly could buy at the equivalent of $1050/ounce. That hardly seems likely as such a wide spread would inspire more than a few of us to travel abroad. I think that more likely, the gold quote was way out of date.
    Many, many perfect transactions with other members. Ask please.
  • RedTigerRedTiger Posts: 5,608 ✭
    Like RGJohn said, the change is calculated differently by different sites. Some use the New York to New York change, some take the London fix, some use a 24 hour clock. Some report the change on futures, not on the spot price.

    Don't worry about the change for the day, focus on the actual price. If buying physical, focus on the price of physical. If buying coins, the price of the coins. If trading paper gold, the price of the futures or ETFs.
    Investment blog: gold, stocks and more
  • ebaytraderebaytrader Posts: 3,312 ✭✭✭


    << <i>Why such a difference in the live spot price? Just wondering >>




    Because there's no such thing as "the spot price". It is a misnomer that it's a cash & carry price. It's calced to contract settlement due in x business days and can include interest and carrying costs.

    Different exchanges can calculate it differently and many of the big web sites calc their own or purchase a spot price, not from an exchange, but from a private company because of the outrageous prices exchanges charge for real-time quotes.

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