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How is the spot price quoted on your website determined?

The metal prices seen on GoldMoney’s website are from several rate providers that collect their rates from various market trading desks around the world and consolidate them. We believe that this method provides you with the best overall value and service.

The precious metal price feeds are received from our providers' in real time. To determine the current spot price that we display on our website, we use the average rate of our providers' data sources and apply a standard deviation calculation.

The purpose of using standard deviation is to prevent one of the data sources that may quote a rate significantly different from the other data sources, from distorting the average rate. A wide variance between the data sources is rare, however it may occur during quiet market conditions, such as during local holiday periods. There is no such thing as a global or uniform spot price for gold or any other precious metal.

We refresh our buying rates every minute, therefore when buying metals, the rate you are quoted could be up to 60 seconds behind the actual live spot rate. The rate is then held for five minutes whilst we process your order. The spot prices published on our website have up to a 25 second lag behind the spot prices quoted within the customer interface.

GoldMoney buys metal from a variety of sources, this can be verified on our Certificates & Reports pages. We deal exclusively in physical metal markets. In the event of a divergence between a front-month futures contract price and the physical spot price (the latter being the price charged for over-the-counter delivery), our prices will reflect the physical spot price, as this is the price GoldMoney is charged to buy the metal from the dealer.