Gold Price Terms: Understand Key Trading Concepts
Understanding key gold market terms—such as bid, ask, spot price, and price fixing—is essential for anyone following live gold prices or engaging in bullion trading. These definitions are standardized globally and recognized by major exchanges such as the London Bullion Market Association (LBMA) and financial institutions tracked by the International Monetary Fund (IMF).
Bid Price
The bid price is the current market price at which a buyer is willing to purchase gold. It represents the price you can sell your gold for in the market at a given moment. In live gold quotes, the bid price typically fluctuates continuously, reflecting real-time trading activity on global exchanges.
Ask Price
The ask price (also called the “offer price”) is the current market price at which sellers are willing to sell gold. It is usually slightly higher than the bid price, and the difference between the two prices is known as the spread. This spread represents market liquidity and dealer profit margins.
Spot Price
The spot price of gold refers to the current real-time price of one troy ounce of gold available for immediate delivery. It is generally determined by the average of recent bid and ask prices across major trading venues and reflects short-term supply and demand conditions. The spot price serves as the benchmark for retail gold pricing and is used in most international gold contracts and calculators.
For reference, the spot gold price is tracked and published by major financial data providers such as:
- London Bullion Market Association (LBMA) – Gold Price
- Reuters – Precious Metals Market
- Bloomberg – Commodities Data
Gold Price Fixing
The London Gold Price Fixing (commonly called the LBMA Gold Price) is the internationally recognized benchmark for gold pricing. It is administered by The London Bullion Market Association (LBMA) and managed electronically by ICE Benchmark Administration (IBA) since 2015. The benchmark is calculated twice daily—at 10:30 AM and 3:00 PM London time—and is used worldwide for setting contract prices, ETFs, and gold-related financial products.
Historical and current fixing data are available directly via:
Transparency and Reference Notes
All definitions provided above are based on internationally recognized financial standards and verified against information published by: the London Bullion Market Association (LBMA), the International Monetary Fund (IMF), and reputable financial data services such as Reuters and Bloomberg. These terms are meant to enhance understanding of gold market fundamentals and are not intended as financial or trading advice.
Disclaimer: GoldPriceZ provides educational definitions and explanatory content about gold pricing mechanisms only. Live market data, benchmarks, and official rates are maintained by licensed institutions such as LBMA, IBA, and IMF. GoldPriceZ does not conduct trading, price setting, or certification of any benchmark. All users are encouraged to verify live data directly from the official source links provided above before making any financial decision.
Last Updated: 15 November 2025
Silver Purity/types:
Unlike gold, silver is typically not classified by karats. Instead, silver purity is usually expressed as a percentage or parts per thousand. The most common purities are:
- Fine Silver (99.9%): Used in investment-grade bullion, coins, and bars.
- Sterling Silver (92.5%): Common in jewelry, silverware, and decorative items.
- Coin Silver (90%): Previously used in coins, now less common.
- Other Alloys: Lower purity silver used in budget or industrial applications.
Silver purity is often marked with stamps like "999," "925," or "900" to indicate the purity level.
- About Silver Types (in Detail),- Methodologies, and References
Description of Weight Units:
| Weight Unit | Equivalent in Grams |
|---|---|
| Kilogram | 1000 |
| Baht | 15.244 |
| Tola | 11.664 |
| Vori (Bori) | 11.664 |
| Tael | 37.429 |
| Pennyweight | 1.555 |
| Pound | 453.592 |
| Mithqal | 4.688 |
| Ratti | 0.121 |
| Carat | 0.2 |
| Masha | 3.885 |
| Troy Ounce(Ounce) | 31.1035 |
Description for currency:
Select your preferred currency to view silver prices. Prices are available in major global currencies like USD, EUR, GBP, and more. Choosing the correct currency ensures you see accurate and up-to-date pricing based on the exchange rate for your location or preference.
Live Silver Price Chart:
Use the duration options to view silver price trends over different time periods. 'Today' shows the current day's price movements, while '7 Days,' 'Month,' and '30 Days' provide recent trends. 'YTD' (Year-to-Date) and '1 Year' offer a longer-term view. Select 'More' for additional timeframes and detailed analysis.
This performance section provides an overview of silver price trends. The Summary tab offers an at-a-glance view with color-coded trend indicators showing percentage changes across key time horizons.
The Amount tab displays absolute value changes in both USD (global benchmark) and local currency, along with exchange rate movements, enabling precise profit/loss calculations.
The Percent tab reveals relative growth rates, essential for comparing silver's performance against other assets and inflation.
The History tab provides anchor price points on specific dates, supporting technical analysis and investment strategy backtesting.
Together, these tabs offer investors, jewelers, and economists multidimensional insights into silver's behavior across timeframes and currency perspectives.
Live Silver Price Calculator:
This tool estimates silver values using live market rates. Enter your silver weight, select a measurement unit (grams, tolas, ounces, etc.), and choose any currency. Click "Calculate" for instant valuation based on current prices. You can also switch tabs to value gold or convert currencies. All calculations reflect real-time market data for accurate precious metal valuation.
About this timestamp
The time shown here indicates when the price data was last fetched from our server. It is not the exact moment of a retail sale or trade, and may differ slightly from jewellery shops or live trading platforms because of data provider timing and currency conversion.
For transparency, full details of how prices are calculated and updated are available in the Reference section. There you can see the data sources, update frequency, and notes on what is included or excluded.
Silver Price Comparison by Purity:
This tool compares live silver prices across different purity levels and weight units. Switch between tabs to see values per ounce, gram, tola, or select "More" for units like baht, tael, etc. Each table shows today's current, lowest, and highest prices for every purity type in your chosen currency. Use the dropdown filters to focus on specific purities, switch weight measurements, or convert values to any global currency.
Silver Market Price Tool
This section shows live silver pricing with bid/ask spreads and customization options. View real-time market rates for different purity levels using the top tabs. The table displays three key prices per gram:
1. Current Price: Latest market rate
2. Bid Price: What buyers offer
3. Ask Price: What sellers request
Adjust the spread percentage to see how dealer margins affect prices, or add labor costs for jewelry valuation. Use the dropdowns to switch between purity levels, weight units, or currencies for international comparisons.
Silver Quantity Calculator Guide
This tool calculates silver prices for specific quantities in Pakistani Rupees. Select a weight unit (grams, tolas, ounces) using the tabs, or choose other units like "baht", "tael", etc. from the "More" dropdown. The table instantly shows spot, buy, and sell prices for common quantities (1, 5, 10 units) and allows custom quantity entry.
Key features:
1. Custom Quantity: Enter any amount for instant valuation
2. Spread Adjustment: Modify dealer margin spreads
3. Labor Costs: Add manufacturing fees for jewelry valuation
4. Live Rates: All prices update in real-time based on market data
Use the dropdowns to change silver purity, weight units, or convert prices to other currencies.
Silver Price History
This section tracks silver's value over time. The table shows daily prices with percentage changes, highlighting market activity and closures.
Reference Information
The following information is about the primary data used in the above sections for transparency and trustworthiness. This section details the weight unit, purity, and currency. It also provides update times and data sources to ensure all information is fresh and accurate for decision-making.