Live spot gold price quotes chart on COMEX

A new page has been launched to display the real-time live gold price chart on the COMEX exchange. The chart is powered by Kitco and is updated every minute. The value-added portion is the automatic refresh, which lets you leave the page open on your browser to monitor the gold price without having to hit the reload button manually all the time.

This is a 24-hour continuous gold chart, which works on a 24/5 basis (Monday to Friday). It may initially take a while to get used to the format, but once you are able to understand it, it becomes a very useful tool. The green line represents the current trading session, the red line represents yesterday's (or the prior trading day's) session, and the cyan line is for the day before that.

The gray section highlights the time window during which there is both electronic trading and also floor trading on the COMEX exchange (which is actually just another name for the New York Mercantile Exchange or NYMEX), and the portion outside the grayed-out section represents the rest of the 24 hours where only electronic trading takes place.

This page will serve as a gold-focused complement to the Live Quotes page, which covers more aspects, including crude oil, gold as well as currency/forex rates, and is updated more often on a 10-second real-time basis.

The Live Quotes page displays futures prices for both crude oil and gold, while the Live Gold page displays the spot price. The difference as explained by Kitco follows :

Spot gold vs gold futures

There is usually a difference between the spot price of gold and the future price. The future price is used for futures contracts and represents the price to be paid on the date of a delivery of gold in the future. In normal markets the futures price for gold is higher than the spot. The difference is determined by the number of days to the delivery contract date, prevailing interest rates, and the strength of the market demand for immediate physical delivery. The difference between the spot price and the future price, when expressed as an annual percentage rate is known as the "forward rate".

(2008-09-27 13:07:28 SGT) [Biz] Permalink

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