Hi, I've been having trouble in determining the correct highs and lows (correct to the cent!). Bloomberg says one, MarketWatch says another, Yahoo Finance says something else, Kitco's graph isn't that detailed - so the hovering doesn't actually reflect the "real" minimum and maximum, GoldPrice.org is another story... Then there are programs as well. Which tool do you use to find the accurate gold price? I think the previous minimum was 1,192.10 $ on June 27th, right? :/ Where was the September 2011 peak? Bloomberg says "$1,921.15 " (http://www.bloomberg.com/news/2013-...sse-having-probably-peaked-two-years-ago.html) and... Resource Investor says "1,924" (http://www.resourceinvestor.com/2011/11/18/historic-gold-peak-ahead-by-early-2012), while this GoldPrice.org chart shows "1,889.70": And I didn't quote lots of other sources that state various other figures. And I need the correct figure - accurate to the cent! :| Just wondering how much you trust those tools and who actually has right... :/ (to me it's important to know to the cent and international spot price, not local - e.g. Hong Kong cling price or the price at some certain point, not the mean daily price, not the opening price... but the minimum and maximum ever - this is where pretty much everyone is saying different figures, so confusing!)
I'm hearing you I use Kitco's charts but basically what I would like to know is where do certain bullion dealers source their spot prices from to regulate their prices? for example ABC, Bullionmark, Bullionbourse etc and others here in this country (Australia) :/ This way, at least you can get some sort of reference point. Something like this, only in Australia (http://comparesilverprices.com) Yes you can Buy, swap or sell bullion on SS's, but most of the time I look, I don't see the coins, bars that I want at that moment in time, and are can be obtained F2F in Sydney...
COMEX Spot gold hit $1921.15 Sep 5th evening Comex Dec Futures hit $1923.70 at 2.30am Sept 6th London fix AM Sep 5th $1896.50 London fix PM Sep 5th $1895.00 They are 3 different markets, with 3 different record highs.
Isn't spot price supposed to be just one? London, HK and COMEX are regional "trading spots", but I mean: gold's overall minimum or maximum price per a certain day in human history (regardless of closing price, opening price, average price whatsoever...)... MAX and MIN. Does anyone know the particular absolute "above all" referential spot price? Let me guess: that's a figure only GOD knows!
Above all reference price is usually considered COMEX (Globex) spot price in $USD, as it incorporates pricing from other international exchanges for price discovery. Spot is a different market to a Futures contract, which as the name implies is a forward trade. Twice a day during London trading hours, the LBMA members (consisting of gold producers, major banks, and gold bullion traders) fix a gold reference price for the day's trading. This price is based upon the actual buy and sell orders for gold in the global OTC market (Globex). Although their price is just for their individual market, the LBMA is the worlds largest market, and that price is used globally as an international benchmark for pricing commodities of the metal.
I know I've posted this link before, but once more won't hurt ... http://www.perthmintbullion.com/au/...nt_Gold_And_Silver_Spot_Rates_Calculated.aspx
