spot price, this is the defined as the Current price of Silver. Basically silver prices are continuously moving up or down. Their is a closed period in the markets. It is every day from 5pm CST to 6 pm CST Monday- Friday. The market closes at 5pm on friday and does not open back up untill 6pm CST on Sunday. To sum it up, spot is what your silver or gold is worth.
Some people will also refer to spot price as Melt Value. These 2 terms are the same, but to clear it up for you with out getting into part 2. Basically if you took a 1 oz American silver eagle and A 1 oz Maple leaf, the spot and melt value would be the same regardless of what you paid for it.
- This is your current Silver spot Price ( ASK ). So as you can see we have added another word for spot price. Some companies refer to it as ask price. So all three words means the same, you have Spot, Ask and Melt Value that all mean thr same thing, which is what your silver or gold is currently worth.
