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What are the spot price limits for buying and selling precious metals at a confirmed purchase rate?

Gold orders that exceed our spot price limit of 2,000 goldgrams must be received before 9:30am Eastern time in North America (14:30 London time) if they are to be executed at the London PM Fix on the same business day. Orders above the limit received after that time will be executed at the London PM Fix on the next business day.

Silver orders that exceed our spot price limit of 2,000 ounces must be received before 6:30am Eastern time in North America (11:30 London time) if they are to be executed at the London Fix on the same business day. Orders above the limit received after that time will be executed at the London Fix on the next business day.

Platinum orders that exceed our spot price limit of 1,000 platinum grams must be received before 8:30am Eastern time in North America (13:30 London time) if they are to be executed at the London PM Fix on the same business day. Orders above the limit received after that time will be executed at the London PM Fix on the next business day.

Palladium orders that exceed our spot price limit of 1,000 palladium grams must be received before 8:30am Eastern time in North America (13:30 London time) if they are to be executed at the London PM Fix on the same business day. Orders above the limit received after that time will be executed at the London PM Fix on the next business day.

All metal orders within the spot price limits are generally completed within 24 hours. Depending on market conditions and on the volume of all GoldMoney customers orders, it can take longer to process your order. Metal orders above the spot price limits are generally completed within 1-3 business days.

We may lower these spot price limits at any time during periods of unusual market activity or high order volumes. You will be informed of any reduction in the spot price limits when you are placing a Buy, Sell or Metal Exchange order.

When you place an order, we confirm the purchase or selling rate (i.e., we 'lock', or in other words, 'confirm' the rate the moment you place the order) for orders up to 2,000 goldgrams, 2,000 silver ounces, 1,000 platinum grams or 1,000 palladium grams. This limit is for each customer for each business day, and you are notified if your order exceeds the spot price limit. The same limit applies separately to both Buy and Sell orders (for example, you can buy 2,000 goldgrams at a 'locked' rate and then also sell 2,000 goldgrams on the same day at a 'locked' rate). Also, for metal exchanges (e.g., converting goldgrams directly into silver ounces and/or silver ounces into goldgrams) the limit is 1,000 goldgrams, 1,000 silver ounces, 500 platinum grams and 500 palladium grams per business day.

Larger orders above these limits can of course be placed, but we cannot confirm the purchase or selling rate when you place your order. Instead, the exchange rate is based upon the next available London 'Fixing Price' (PM fix for gold, platinum and palladium) after the order is placed, provided you place the Buy order at least 30 minutes prior to that Fix (see the Fix times above). Orders received after that time will be processed on the subsequent day's London Fix. This 30-minute window is necessary to enable GoldMoney to prepare and place its buy and sell orders on the London Fix for that day.

If you place different orders during the day, they will be aggregated for purposes of determining whether a locked rate is still available. If you want to confirm the rate for a portion of your Buy or Sell order, you can place two orders: one for an amount within the confirmed rate threshold (2,000 goldgrams, 2,000 silver ounces, 1,000 platinum grams or 1,000 palladium grams) and a second order for the remainder of the amount you wish to buy or sell after placing the first order.

If any one order or aggregate of orders placed during one business day exceeds the spot price limit, you will be notified during the order process. You will be given the choice of cancelling the order, or proceeding with the order without locking the rate. If you choose to proceed, your order will be executed during the next available London Fix (PM fix for gold, platinum and palladium), and the exchange rate you receive for your goldgram, silver ounce, platinum gram or palladium gram order will be determined by that fixing price.