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COMEX gold price

jetprojetpro Posts: 126
in U.S. Coin Forum
Can someone please explain the difference between the bid/ask price of gold according to the Kitco web site and the COMEX price as reported on CNBC which is always several dollars higher?

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    JoflaxJoflax Posts: 979 ✭
    COmex is futures trading and Kitco has spot pricing (todays price)
    Buy the dips!!!
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    jetprojetpro Posts: 126
    Thanks joflax....are the two related....does one move in the same direction as the other?
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    thebeavthebeav Posts: 4,103 ✭✭✭✭✭
    Yes, they are related, and they do move in the same direction. The 'futures' price is a 'contract' price for delivery at a later date. This later delivery price will fall if gold falls today or rise if gold rises.
    My Ebay Coin Store
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    JoflaxJoflax Posts: 979 ✭
    Depending how far in the future you are buying , the higher the price above spot ,
    The price on cnbc is normally the next contract to close , that is 1 or 2 months in the future.
    They always move in the same direction
    Buy the dips!!!

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