Precious metals are traded throughout the day in different markets. The most active trading occurs in New
York, London, Zurich, Tokyo, Sydney and Hong Kong. The prices quoted in our chart reflect the "spot" price of
precious metals. The spot price refers to the price paid for immediate delivery. (This is different from a
"futures price" where delivery and payment is to be made on some future date). We update spot prices throughout
the trading week commencing Monday morning at 6 a.m. PST and ending Friday afternoon at 5 p.m. PST(excluding
holidays).
Changes (+/-) in the precious metals prices are based upon the most recent close in the "Open
Outcry Trading" of the New York Spot Market which trades from 5:20 a.m. to 10:30 a.m. PST (8:20
a.m. to 1:30 p.m. EST)
If you are looking at prices up to
10:30 a.m. PST, the price change will be measured against the prior day's close. If you are looking at prices
after 10:30 a.m., the price change is measured against the New York spot price for that morning. For example, if
the price of gold at 9:30 a.m. PST is $650, +$5, the $5 gain is measured against the prior day's close in the
New York Spot Market. If the price of gold at 11:30 a.m. PST is $675, + $15, the $15 gain is measured against
the closing spot price as of 10:30 a.m. that morning.
