On 4/8/20 12:30 PM, Adrien Monteleone wrote: > To be clear, the spot price is per ozt, but it is based on a > transaction involving 1000 ozt of Silver or 1kg of Gold. If you are > buying or selling more or less, your exact price will be different, > but you can use the spot as a guide.
Here in USA, a standard contract for gold is 100 troy ounces and for silver, it is 5000 troy ounces. The spot price may be useful if you are trading gold or silver contracts, but if you buy a contract because you want to take delivery of the gold, you are in for a rude shock. For example, there are an estimated 300 contracts out there for each 100 ounces of gold, so if all holders wanted to take delivery, 299 would have to do without. If you actually want to take delivery, you may have to pay a big premium. These days, some items are either not available at all (Canadian one-ounce silver Maple Leafs), or command a large premium ($177 premium over spot) to get a one-ounce US Gold Eagle. So it depends on how you intend to use the prices just what prices you should use. -- .~. Jean-David Beyer /V\ PGP-Key:166D840A 0C610C8B /( )\ Shrewsbury, New Jersey ^^-^^ 14:15:01 up 26 days, 17:44, 2 users, load average: 4.93, 5.19, 5.17 _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
