Is gold on 'special' this week at Goldmoney?

Mr_Troy_OzMr_Troy_Oz Posts: 70 Copper ✭✭
"Looks like gold is 'On Sale' this week ..but only at Goldmoney! "

So I have to wonder, at the time I looked, why is Goldmoney quoting a 'spot price' of $55.16/gr, (Quote as presented on the 'Personal acct' page), while at the same time Bullion-Vault and Sharps-Pixley are quoting $55.898 and $55. 889 per gram respectively?
- This is a difference of approx. .73 cents per gram.
The price per gram difference may not seem significant to some, but by extension, one should a little concerned when one is dealing with 10's of thousands of dollars in gold ounces.

Goldmoney's 'spot quote' of $55.16/gm = $1715.67/ounce (Canadian).
Sharps-Pixley's spot quote of $55.898/gm = $1738.62/ounce (Cad.)
- This is a difference of $22.95 dollars per ounce!

This is great news if you plan on buying today. A discount of $22.95 below the going market price anywhere else! A bargain!
- However, if you should happen to a seller today.. you will also be getting a discount on your returns upon sale! Ouch!

I don't understand how, in this day of advanced technologies, Goldmoney's quote service can be so far out of sync with all the other quote services, which apparently are able to be within a several cents of each other on their quotes?
- Again yes, I know Goldmoney's quotes are 'the average between vaults' ..but still, $22.95 per ounce?
- Thus far this has been the equivalent of 1/2 gram worth of gold, for every ounce of gold, bought or sold.!
- Why?

Comments

  • Mr_Troy_OzMr_Troy_Oz Posts: 70 Copper ✭✭
    edited April 2
    Well, it looks like they fixed the price quote problems just in time for the Tuesday market open. Pricing is back to normal.
    No more gold price bargains - Sorry!
    - Still don't know why or what happened - but hey ..it's working again.
  • RocketDogRocketDog Posts: 598 Silver ✭✭✭✭
    I thought the price they showed was an average of all vaults and the price you pay will be shown to you after you select a specific vault, right before you confirm your order. Maybe that has something to do with it?
  • Mr_Troy_OzMr_Troy_Oz Posts: 70 Copper ✭✭
    edited April 3
    @RocketDog,
    Yes you are correct about the Goldmoney price being derived from a multi vault average.
    And this has always only been a two to five dollar difference in 'live' price quotes from other services like SharpsPixley, BullionVault, or Bullion Star in Singapore. (I have acct. with Bullion Star as well).

    - 90% of the time, the price quote difference via GM will only ever be 2 dollars higher than any the other quote services, which is fine.
    But certainly not the $22 dollars or so 'lower' pricing for an ounce of gold that I witnessed happening all day on March 2nd.!
    - Which was a bargain if you were buying.

    I suspect there may have been a glitch with Goldmoney's quote service provider, like a corrupted algorithm or something along those lines. It would not be the first time!
    - However, everything seems back to 'normal' today at Goldmoney as of market open this morning on Mar. 3rd.
  • RocketDogRocketDog Posts: 598 Silver ✭✭✭✭
    @Mr_Troy_Oz I admire your fastidiousness in tracking those price differences. Maybe we did miss a bargain.

    I think gold prices are going to get way more interesting over the next few months.
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