gold quotations

what time the gold quotations ends ? or it works all the the time ?

Comments

  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    Gold is traded around the Clock around the globe so yes, it works all the time!
  • GoldStandardCanadianGoldStandardCanadian Posts: 148 Bronze ✭✭✭
    Gold can be redeemed as physical or traded for forex currencies 24/7 in your Goldmoney account.

    Gold ETF's on the other hand are exchanged during Stock Exchange trading hours only. And ETF's like GLD are manipulated anyway - best to invest in allocated, physical metal.
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    Not so sure about 24/7 with regard to pricing - more like 24/5. Global markets close on the weekends, but Goldmoney trades 24/7 - however "pending" times are in play over the weekend as the vaults are not open.

    From TOS ( https://www.goldmoney.com/terms-of-service )

    c. Price calculation: You agree that the price for any purchase or redemption of Gold for any transaction within your Goldmoney Personal or Business Account will be based on the Best Bid or Offer (“BBO”) in each respective vault location as reflected by the Aurum pricing engine (“Aurum”). You accept that Aurum collects and distributes real-time Gold prices from bullion counterparties quoting bids and offers for the purchase or sale of physical Gold bullion at each respective vaulting location where Goldmoney maintains a Vault. These prices are reproduced on the Goldmoney Website continuously, with the live price displayed, being the average of the BBO at any given time. The price at which Goldmoney will sell Gold to you is the BBO plus 0.5%. However, should you make a purchase of 0.010 grams or less, the transaction fee applied shall be 0.001 or 0.5%, whichever is greater. The exception is for transactions occurring on weekends and holidays in New York when there is no BBO quotation from counterparties, at which time the rate will be the rate posted on the Goldmoney Website. Goldmoney provides a price guarantee for any transactions executed from Sunday from 6:30pm EST to Friday at 5:00pm EST (the “Price Guarantee”). The Price Guarantee maintains that the fee added to the BBO will be half a percent (0.5%). Aurum prices will reflect the internal liquidity provided by the Goldmoney market making operations and the rate will be the rate as posted on the Goldmoney Website plus half a percent (0.5%) for transactions occurring from Friday at 5:01pm EST to Sunday 6:29pm EST.

    Just remember that the BBO quote is more like a stock market order than a limit order. The quote price and the settlement price will be ever so slightly different.
  • Skookum_JimSkookum_Jim Posts: 124 Bronze ✭✭✭
    Hmm 24/6 if so given time zones :) However i think you can get an updated quote for gold basically around the Clock since there is always somewhere it's traded, it is after all the true money..
  • 79Au19779Au197 Posts: 4,047 Gold ✭✭✭✭✭
    @Skookum_Jim OK 24/6 with global time zones B)
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