How Gold Is Priced: Spot Price, Premiums and Quotations
Why the price you are quoted differs from the spot price you see online.
The spot price is the international market price for immediate delivery of gold, usually quoted per troy ounce. It moves continuously while markets are open.
The price a buyer actually pays includes a premium over spot. Premiums cover refining, fabrication into bars or coins, transport, insurance, documentation and the seller's margin. Smaller items generally carry higher premiums per gram.
Because the market moves, a quotation is valid only for a stated period. A professional quotation will list the weight, fineness, unit price, premium, taxes and charges, and its validity window.
Be cautious of any offer that is far below the market. A price that looks too good usually signals a problem with the product, the paperwork or the seller.