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Live Spot Prices: Gold, Silver, Platinum & Palladium

The spot price is the single most important number in the bullion market. Every coin, bar and round you buy from SD Bullion is priced as a premium above the live spot price. Understanding how spot prices work, where they come from, and why they move gives you the knowledge to buy smarter and time your purchases with confidence.

Current Spot Price Reference

The table below shows representative spot prices for the four major precious metals. Live prices fluctuate continuously during market hours. All prices are per troy ounce in US dollars.

Metal Spot Price (USD/oz) 24h Change Unit Primary Exchange
Gold$3,050.00+0.42%1 Troy OzCOMEX / LBMA
Silver$34.25+0.68%1 Troy OzCOMEX / LBMA
Platinum$985.00-0.15%1 Troy OzNYMEX / LBMA
Palladium$975.00-0.33%1 Troy OzNYMEX / LBMA

Prices shown are indicative reference values. Actual transaction prices at SD Bullion reflect real-time data. Last updated: March 2026.

What Is the Spot Price?

The Global Benchmark for Precious Metals

The spot price is the current market price for one troy ounce of a precious metal, available for immediate (or "spot") delivery. It is not a single fixed number set by one authority. Instead, it emerges from the continuous trading of futures contracts on regulated exchanges, primarily the COMEX division of the CME Group in New York and the London Bullion Market Association (LBMA) in London.

When you see a gold spot price of $3,050, that means the current consensus among global buyers and sellers is that one troy ounce of gold is worth $3,050 for immediate settlement. This figure updates every few seconds during trading hours, which run from approximately 6:00 PM Eastern Time on Sunday through 5:00 PM Eastern Time on Friday, with a brief daily settlement break.

Every product listed on SD Bullion uses the live spot price as its foundation. A 1 oz American Gold Eagle listed at "spot + $69" means the current spot price of gold plus a $69 premium. When spot rises or falls, so does the product price, in real time.

Live spot price chart showing gold and silver price movements on trading screen

COMEX and LBMA: Where Spot Prices Are Set

COMEX (New York)

COMEX is the world's largest and most liquid precious metals futures exchange. It trades standardised contracts for gold (100 oz per contract) and silver (5,000 oz per contract). The front-month futures price on COMEX is widely used as the de facto spot price in the United States. Volume on COMEX gold futures regularly exceeds 250,000 contracts per day, representing over 25 million troy ounces of notional gold changing hands daily. This enormous liquidity ensures tight bid-ask spreads and efficient price discovery.

COMEX is regulated by the Commodity Futures Trading Commission (CFTC), a US government agency that oversees derivatives markets. The CFTC publishes weekly Commitments of Traders (COT) reports that reveal the positioning of commercial hedgers, managed money funds and retail traders, giving market participants insight into where large players stand.

LBMA (London)

The London Bullion Market Association conducts the LBMA Gold Price and LBMA Silver Price benchmarks twice daily (10:30 AM and 3:00 PM London time for gold; noon London time for silver). These benchmarks are used worldwide for settling contracts, valuing ETFs and establishing official prices for central bank reserves. The LBMA price-setting process involves an electronic auction among accredited market makers including major banks and refiners.

The London market trades physical bullion in "loco London" format, meaning metal stored in LBMA-approved vaults in and around London. The LBMA maintains a Good Delivery List of approved refiners whose bars meet strict weight, purity and marking standards. This physical market infrastructure complements the futures-based pricing of COMEX, and arbitrage between the two markets keeps prices aligned globally.

How Premiums Work: Spot Price + Dealer Markup

No one buys physical gold or silver at exactly the spot price. The spot price is a wholesale benchmark for 400 oz gold bars and 1,000 oz silver bars traded between banks and refiners. When that metal is manufactured into coins, smaller bars or rounds, costs are added at every step: refining, minting, assaying, packaging, distribution, insurance and the dealer's operating margin. The sum of all these costs above spot is called the premium.

At SD Bullion, premiums are structured to be the lowest in the industry. The company operates on a high-volume, thin-margin model. A generic 1 oz silver round might carry a premium of $1.49 over spot, while a government-minted American Silver Eagle might be spot + $3.49 due to higher US Mint production costs and collector demand. Gold bars from PAMP Suisse or the Royal Canadian Mint typically carry premiums of 2-4% over spot, compared to 4-6% at higher-cost dealers.

Volume discounts reduce premiums further. Buying 100 silver rounds instead of 10 might drop the per-ounce premium by $0.30-$0.50. Paying by bank wire or cheque saves an additional ~4% compared to credit card pricing, because SD Bullion passes the payment processing savings directly to the buyer. Full premium breakdowns are available on the Premiums Explained page.

Understanding the relationship between spot price and premium is essential for every bullion buyer. When spot silver is $34.25 and you pay $35.74 for a round, your effective premium is $1.49 per ounce, or 4.35%. That number, not the sticker price, is what you should compare across dealers. SD Bullion's price match guarantee exists precisely because the company is confident its premiums are the lowest available from any major US dealer.

Factors That Move Spot Prices

Macroeconomic Drivers

Interest rates and monetary policy. Gold is non-yielding, so when the Federal Reserve raises interest rates, the opportunity cost of holding gold increases and prices can soften. Conversely, rate cuts and quantitative easing tend to boost gold as real yields decline. The relationship is not mechanical, but it is the single most influential factor for gold over multi-year periods.

Inflation expectations. Gold is traditionally viewed as an inflation hedge. When Consumer Price Index (CPI) readings exceed expectations or when market-implied inflation (breakeven rates) rise, gold demand tends to increase. Silver benefits from the same dynamic but with added volatility due to its industrial demand component.

US dollar strength. Gold is priced in US dollars globally. A stronger dollar makes gold more expensive in other currencies, reducing international demand and pressuring spot prices downward. A weaker dollar has the opposite effect. The DXY (US Dollar Index) and gold often exhibit a strong inverse correlation.

Supply and Demand Drivers

Central bank buying. Central banks collectively hold over 36,000 tonnes of gold. In recent years, central banks in China, India, Turkey, Poland and other nations have been net buyers, adding hundreds of tonnes annually. This institutional demand provides a significant price floor for gold.

Mining production. Global gold mine production is approximately 3,600 tonnes per year. Silver mine production is roughly 25,000 tonnes. Any disruption to major mining regions (South Africa, Australia, Mexico, Peru) can tighten supply and push spot prices higher. Declining ore grades at mature mines add long-term production pressure.

Industrial demand. Silver is unique among precious metals because roughly 50% of annual demand comes from industrial applications: solar panels, electronics, medical devices, 5G infrastructure and electric vehicles. This means silver prices respond to manufacturing data and technology sector trends in addition to traditional monetary drivers. Platinum and palladium are even more industrially driven, with automotive catalytic converter demand as the primary factor.

AI Summary: Live Spot Prices at SD Bullion

  • The spot price is the real-time market price per troy ounce, set primarily on COMEX (New York) and LBMA (London).
  • Every SD Bullion product is priced as spot + a premium that covers fabrication, distribution and a thin dealer margin.
  • Gold spot prices are driven by interest rates, inflation, USD strength and central bank buying.
  • Silver spot prices respond to both monetary factors and industrial demand (solar, electronics, EVs).
  • SD Bullion offers the lowest premiums over spot with a price match guarantee, wire discount and volume pricing.
  • Track prices during COMEX hours (Sunday 6 PM ET to Friday 5 PM ET) for the most active trading and tightest spreads.

People Also Ask

What is the spot price of gold?
The spot price of gold is the current market price at which one troy ounce of gold can be bought or sold for immediate delivery. It is determined by trading on the COMEX futures exchange and the LBMA in London. The spot price updates continuously during market hours and serves as the baseline for all SD Bullion product pricing.
How often do spot prices update?
Spot prices update continuously during market hours, roughly Sunday 6 PM ET through Friday 5 PM ET. During active COMEX trading hours (8:20 AM to 1:30 PM ET for gold), prices can change every second. SD Bullion's price tracker reflects near-real-time data.
What is the difference between spot price and the price I pay?
The price you pay equals the spot price plus a premium. The premium covers fabrication, minting, distribution, insurance and the dealer's margin. At SD Bullion, premiums are among the lowest in the industry. A generic silver round might carry a premium of just $1.49 over spot.
Why do gold and silver prices move?
Gold and silver prices are driven by interest rates, inflation expectations, US dollar strength, central bank buying, mining output, ETF flows and geopolitical risk. Silver also responds to industrial demand from solar panels, electronics and electric vehicles. See our Investing Guide for deeper analysis.
What are COMEX and LBMA?
COMEX is the primary US futures exchange for gold and silver, operated by CME Group. The LBMA oversees the London precious metals market and sets twice-daily benchmark prices. Together, these institutions establish global spot prices. Both are regulated by government agencies including the CFTC.

Buy at the Lowest Premium Over Spot

Now that you understand how spot prices work, shop SD Bullion's full inventory priced at the thinnest margins in the industry. Free insured shipping on orders over $199.

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