Gold Bid and Ask Price

There is a difference between the price of selling and purchasing gold. What do we mean by that?

This means if you have 100 grams of gold and you replaced it with currency and you wanted to buy gold using the same amount of money that you got from selling gold, probably you would not buy 100 grams of gold because weight will be different.

This difference is called bid and ask gold price.

Thus, ask price is the price you pay when you buy a gram of gold. While, selling price is the price you get paid when you buy a gram of gold. Usually, there is a difference between the two prices. The ask price exceeds the bid. This difference is called spread.

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