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Do they use US Spot or world spot?

mrpaseomrpaseo Posts: 4,753 ✭✭✭
in Precious Metals
When buying on line after hours and the US market is closed, do they use the going spot around the world or do the use the closed US spot price?

Ray

Comments

  • nibannynibanny Posts: 2,761 ✭
    Most use the current world spot.
    I noticed that Goldmart starts updating its prices in the morning. Noticed once, don't know if it is the rule.
    The member formerly known as Ciccio / Posts: 1453 / Joined: Apr 2009
  • derrybderryb Posts: 36,825 ✭✭✭✭✭
    I believe most us the LBMA, London Bullion Market Association, price.

    "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

  • Steve27Steve27 Posts: 13,274 ✭✭✭
    Most places use Kitco ask (vice bid); however, I have no clue what Goldmart uses.
    "It's far easier to fight for principles, than to live up to them." Adlai Stevenson
  • KUCHKUCH Posts: 1,186
    Also, does the US spot price close at 5 PM EST? If you please, what was the closing gold spot on Friday? JS site shows 1406.50?
  • mrpaseomrpaseo Posts: 4,753 ✭✭✭


    << <i>Also, does the US spot price close at 5 PM EST? If you please, what was the closing gold spot on Friday? JS site shows 1406.50? >>



    $1407.50 (Always go with the higher price when buying.

    Ray
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