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Is the NY commodity exchange the right place for

Is the NY commodity exchange...

Is the NY commodity exchange the right place to go to get the spot price for gold? If so how does one do that?


 


Is it the same as:http://money.cnn.com/data/commodities/


?

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Answered in 4 hours by:
10/16/2013
49erLBSU
Category: Finance
Satisfied Customers: 3,293
Verified
There are many sites online such as the one you mention such as Kitco etc. Researching today sites that have the reputation worldwide for accurate pricing and have listed them below for your research:

1. World Gold Council: http://www.gold.org/

2. Financial sites such as CNN Money, Bloomberg etc are quality sites from which to get pricing as well.

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Stephen G.
Stephen G., Sr Financial Expert
Category: Finance
Satisfied Customers: 7,211
Experience: Extensive Experience with Tax, Financial & Estate Issues
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Hello, my name isXXXXX & I'll be helping you today. My goal is to give you a complete & accurate answer that you can understand.

 

The site moderator has asked me to respond to your question.

 

Here's a link to a webpage that gives the "NY Spot Price of Gold" on a 24/7 basis.

 

http://www.pmbull.com/gold-price/?gclid=CK-e5LXLnroCFa19OgodfTsAHQ

 

If you have any further questions, please let me know.

 

Steve G.

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Customer reply replied 4 years ago

unfortunately, the link you sent me "price of gold" takes me to smartshopping.com, which is malware. I have been trying to get rid of the malware for the past two days and have not yet suceeded.


 


Please spell out, if possible, the actual www.xxx of the link .


Hmmmmmmm------------Sorry, I don't get that result..................I didn't give you a simple "price of gold" link. The link I intended for you to use goes to the P.M.Bull website, which doesn't contain any Malware that I've experienced.

Current Gold Price: 24 Hour Spot Gold

The current spot gold price is $1334.5 per oz at 2013-10-23 11:17:32 EST. Live, real time price chart:

I haven't had any malware problems with that site, or of course I wouldn't have given it to you. Maybe there's a pop-up hidden on your computer or something. I have no idea. I've copied what I get from the website as far as the spot price when I checked it a minute or two ago. Hope this helps.

If you follow the 1st link above you'll go directly to the current spot gold price.

I've used it repeatedly today & in prior instances with absolutely no problem, no "Malware" what-so-ever. Hope this helps.

 

Steve G.

 

 

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Customer reply replied 4 years ago

Neither you or the site referred me to has malware. It is my browser who is skulldedging me. Thank you for the PM Bull website. I am still not clear. are their quotes identical to the NY Commodity Exchange?


Thanks for clearing that up re: the Malware.

That's last question is a different one from your original question which was is whether or not the NY Commodity Exchange was the "right place" to go to get the spot price for gold. I think both of us (experts) presumed that you were looking for a reliable place to get the spot price of gold not whether or not the NY Commodity Exchange was the "proper" place to go. I believe that depends upon who is trading and on what exchange they are talking about. I guess you could simply compare the two sites to the NY Commodity Exchange spot price at any point in time and see how they compare. I think you may find them identical as the sites probably use the NY Commodity Exchange, whenever possible, to report the spot price on their own sites.

Of course, if you were to inform us of what purpose you are planning to use the spot price of gold for, we could be more specific as to whether or not the NY Commodity Exchange quote of the spot price of gold was the appropriate source for your purposes. I doubt that you will find any substantial (in this case extremely small would be substantial) difference between the quotes if determined at the same time at the PM Bull Website & the NY Commodity Exchange Website.

Hope this helps.

If you want to contact me again with any tax or financial questions, you can just ask for "Steve G" at the beginning of your question. Thanks again for using us for your tax and financial questions. You may get a short survey from the site; if it isn't too much trouble I would appreciate it if you would answer it; the survey results are used to rate our performance;

.
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Customer reply replied 4 years ago


My original question: "


Is the NY commodity exchange the right place to go to get the spot price for gold? If so how does one do that?"


 


I am specifically interested in accessing the NY Commodity exchange because the coin dealer says he bases his prices on that. However the print out he showed me quotes the "Certified Asset Exchange Inc.".Are these two exchanges the same? I stil would like to access the NY commodity exchange.


 


Thank you for your time and trouble

No. They are not the same. "The Certified Asset Exchange Inc." is a data mining company and you can access their website at:

http://www.zoominfo.com/c/Certified-Asset-Exchange-Inc/345397473

The NY Commodity Exchange actually refers to the commodes listed on the "New York Mercantile Exchange (NYME)".

I would suggest that you compare the price the coin dealer quotes to the spot price listed on the website I gave you (P.M. Bull website) as the spot price of gold reported there is the price from the NYME.

The NY spot price of gold is THE spot price of gold in NY; there is only 1 spot price.

Of course, it is possible that the London spot price, at any point in time, may be different from the NY spot price; but the variation would normally be minor.
Stephen G.
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