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- - Is the Kitco Spot price for real? (http://goldismoney.info/forums/showthread.php?t=33389)

Book | 04-06-2006 02:45 PM
Is the Kitco Spot price for real? When the MSM is reporting Gold over $600 why is Kitco stuck with a current high of $597.40? Can the oldtimers explain how this works? Gold's hit $600. Now what? Traders set long-term view on $1,000+ on investment shift By Myra P. Saefong, MarketWatch Last Update: 1:22 PM ET Apr 6, 2006 <LABEL class=StoryContent id=StoryContent_Content>SAN FRANCISCO (MarketWatch) -- Gold's reached $600 an ounce for the first time since 1981 but the real surprise will be where it goes from here, with experts predicting a near-term downtrend that could clear the way for four-digit prices in the next few years. "Gold at $600 an ounce might be a surprise to many, but these are the same people that were surprised when gold hit $300, when it broke $400 and when it moved to over $500," said Emanuel Balarie, a senior market strategist at Wisdom Financial. "Most likely, they will still be surprised when gold hits $1,000 an ounce," which could come in the next three to four years, if not sooner, he said. Gold futures for May delivery climbed as high as $601.90 overnight in New York, and peaked at $600 in the regular session. The strength helped lift silver futures above $12 an ounce for the first time in more than 22 years. </LABEL>

LikeGreen | 04-06-2006 02:49 PM
Re: Is the Kitco Spot price for real? yeah, I saw that. Keep in mind the source. Myra Saefong is a major fertilizer source, daily. Kitco may be wrong, but MarketWatch headlines are more often wronger. It may also be a bid/ask thing, where Kitco reports the average, but there was an ask just over and MW reports that. Or they just may want a catchy headline on a big day. LikeGreen :smokin:

fasTTcar | 04-06-2006 02:49 PM
Re: Is the Kitco Spot price for real? That article is based on futures, not spot price.

Bugle | 04-06-2006 02:58 PM
Re: Is the Kitco Spot price for real? Quote:
Originally Posted by fasTTcar That article is based on futures, not spot price.
Kitco is like a broken clock, It's right twice a day. I have come to beleive that is only the spot for paper PM's anyway.

Book | 04-06-2006 03:00 PM
Re: Is the Kitco Spot price for real? Quote:
That article is based on futures, not spot price. -fasTTcar
So it is...thanks!

goldminer | 04-08-2006 03:14 PM
Re: Is the Kitco Spot price for real? Bookmark American Precious Metals Exchange (APMEX) home page. They update spots every 60 seconds and IMO have always been acceptably reliable.

HistoryStudent | 04-08-2006 05:22 PM
Re: Is the Kitco Spot price for real? Use this chart off INO. Gold is priced from $585 to $603 depending which line you choose. http://quotes.ino.com/exchanges/?c=metals

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