Live price of gold?

KUCH

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.

PerryHall

Kitco shows gold down $6.40.

cohodk

I show it up 2.20 to 1164.40

KUCH

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!

CaptHenway

<< <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. >>



What were the times on the quotes?
Has been zig-zagging up and down.
D

derryb

I work with Kitco's spot.

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

cohodk

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.

DrBuster

Up $2.10 on apmex quotes

RGJohn

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 I think that more likely, the gold quote was way out of date.

RedTiger

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.

ebaytrader

<< <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.