Large silver spot price disparities

Discussion in 'Silver' started by Alloy, Mar 26, 2020 at 1:58 PM.

  1. Alloy

    Alloy Member

    Joined:
    Jul 17, 2018
    Messages:
    71
    Likes Received:
    29
    Trophy Points:
    18
    Location:
    San Francisco Bay Area, USA
    Hi all – I'm seeing significantly different silver spot prices from different sources and dealers. Here's what I found when I took a snapshot at 12:11 GMT/UTC today, March 26, 2020. All prices were with seven seconds of each other, and none of them changed significantly in the ensuing 30 seconds. These are all Ask prices as far as I can tell, which is the most relevant price:

    SilverPrice.org: $14.42

    JM Bullion: $14.74

    GoldPrice.com: $14.70

    APMEX: $14.84

    Kitco Live Silver (not fix): $14.54

    These differences are too large. I assume they're all supposed to be COMEX prices. Something is out of whack here. What's particularly disturbing is how much higher the dealer-quoted spot price is compared to the non-dealer sources. The difference between APMEX's quoted silver spot and SilverPrice.org is 42 cents! And JM Bullion is 32 cents over.

    Differences that large don't make any sense, even if the quotes are a full minute or two delayed compared to SilverPrice.org or Kitco's quote. Hell, even if they're ten minutes off, it wouldn't explain a 32 - 42 cent disparity – spot didn't move nearly that much in the ten minutes prior.

    The reason the dealer-quoted spot is troubling is that in both cases they're much higher than the true spot price. This would make their product prices look better than they are, because the premium over spot will look smaller than it actually is... That's a problem. Do you think it's a coincidence that the dealer-quoted spot prices are higher than the correct value? Or intentional?

    This ties into my other post about where people are getting the silver spot price. No one seemed to know what the ultimate source was (e.g. COMEX or some other exchange). The disparities are annoying, as is the fact that it's hard to tell exactly where these different sources are getting their silver spot price.
     
  2. pmbug

    pmbug Active Member

    Joined:
    Oct 22, 2011
    Messages:
    305
    Likes Received:
    68
    Trophy Points:
    28
    Location:
    Texas
  3. silverhair

    silverhair Active Member

    Joined:
    Dec 9, 2019
    Messages:
    128
    Likes Received:
    167
    Trophy Points:
    43
    KJC does the same thing with their spot prices on their web site, way over actual market.
     

Share This Page