Home› U.S. Coin Forum
Options

Confusion about todays Gold prices...

AnkurJAnkurJ Posts: 11,366 ✭✭✭✭
in U.S. Coin Forum
I am a bit confused on something...

Cnn.com shows that Gold in the NY market ended at $647.10 an ounce.

Kitco shows Gold in NY ended at $639.70 an ounce

Am I missing something or is one of the sites wrong?

Ankur
All coins kept in bank vaults.
PCGS Registries
Box of 20
SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!

Comments

  • Options
    PentimentoPentimento Posts: 1,367
    FWIW I was thinking the same thing. I totally thought I saw a 640+ close when I was goofing around on the Bloomberg terminal at work. I don't think CNN is right though.
  • Options
    AnkurJAnkurJ Posts: 11,366 ✭✭✭✭
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • Options
    AnkurJAnkurJ Posts: 11,366 ✭✭✭✭
    Looks like CNN corrected it today, and gold is at around $637 an ounce. I Wonder where they got their numbers from yesterday! The only thing I can see at work is CNN, so I was rather surprised Gold had gone up so much. Oh well!

    Ankur
    All coins kept in bank vaults.
    PCGS Registries
    Box of 20
    SeaEagleCoins: 11/14/54-4/5/12. Miss you Larry!
  • Options
    BrianKuszmarBrianKuszmar Posts: 279
    Not sure why in this partyicular case though typicaly many exchanges and companies use there own formula to derive a current spot price from the futures mkt.
    I/e Handy&Harmon, Englehard and many others and generaly they are all very close to each other.

    regards
    Brian Kuszmar
    Second Generation Coin, Currency and Precious Metals Dealer

    Coin, Currency or Bullion Questions?
    Call anytime 954-493-8811
  • Options
    FlyfishguyFlyfishguy Posts: 333
    Maybe the $647 is a "Futures" price?
  • Options
    CaptHenwayCaptHenway Posts: 31,771 ✭✭✭✭✭


    << <i>Maybe the $647 is a "Futures" price? >>



    Could be. Bloomberg used to quote the most actively traded future month, until I spoke with them nicely and explained that in a retail coin shop it was confusing for people to hear a futures month that was several dollars higher than the current spot that we had to use. They agreed and changed their reporting.
    TD
    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.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Format
SpoilerCodeQuote
Heading 2Heading 1
Emoji
:):D:(;):/:o:s:p:'(:|B):#:*<3o:)>:)
Url
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file
Home • U.S. Coin ForumComment As ...