how does th spot price woek?

[realbluegold]

Im very confused.. how many markets fix the PM spot price? In the charts there are always diferent lines: london, ny globex, shangai, etc. anyone has detailed information on this subject? thankssss

[garthy]

The spot price is todays actual price, the price should be what people are willing to pay at that moment in time for delivery, a bit like you'd find on a bitcoin exchange, unfortunately the spot price now follows the comex price which is a futures market made up of paper contracts.

The spot price should be set by the highest bidder, that's what a free market is but now is influenced by the comex.

[garthy]

Sorry I read the title of the thread and didn't read your post.

I believe 5 markets fix the price, London, New York Globex, New York NYMEX, Hong Kong and Sydney, they are all futures markets.

All I know is London and New York have the most influence on the price, I've heard if you take those two markets out of the equation PM's would be a lot higher.

[watchesandwhisky]

Spot price works by this, you buy a load of coins and it goes down, you sell a load and it goes up:P

 

Seriously though..I'm not to sure, I just follow the forums charts. Interesting question though.

[craig12]

if the stock markets crash around the globe  will spot go up or down

[HelpingHands]

Probably up.

Also if currency goes into hyperinflation all markets go up not down.

[Hillbilly Sheep]

to add to this,  Do suppliers prices of coins go up and down depending on the spot price.  I haven't noticed prices coming down (but I'm maybe not looking close enough) ?

[HelpingHands]

Yes they move but they need to factor in a mark up and any inclusive postage.

Maybe open a bullionbypost page and watch it change every couple of minutes.

[BaldyBob]

 

Maybe open a bullionbypost page and watch it change every couple of minutes.

 You need to get out more