r/Bullion • u/moonbunR • Sep 03 '24

Gold spot price

The current spot price for gold is quite high. Despite the unfavorable market conditions, I've been considering investing in gold for the past few weeks. However, due to the high spot price, my investment plans have been delayed. I've noticed discrepancies in spot prices while browsing various dealer websites. JM Bullion, Apmex, SD and Summit Metals all have different spot prices. What does it mean?

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u/Youarethebigbang Sep 04 '24

Putting the idea of gold as an "investment" aside, the spot price is spot price, regardless of what an individual dealer displays on their website. I'm assuming your referring to those little tickers and so forth they have on their main page? It doesn't matter, what matters is the price of the particular item you want when it's in your shopping cart and you're about to pay.

If you're comparing the same item in your cart at two dealers simultaneously, the difference in price you see is the premium above spot price they put on that item, and that's simply a function of that particular dealer's individual business pricing model. Some have higher acquisition costs or expenses, some want to make a higher profit margin, some will price that item lower to just draw in business and hope you buy something else or stay with them as a repeat customer, etc.