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>

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:

Re: Is the Kitco Spot price for real?
 

That article is based on futures, not spot price.

Re: Is the Kitco Spot price for real?
 

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.

Re: Is the Kitco Spot price for real?
 

So it is...thanks!

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.

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