Forgive my ignorance, but what is 'spot gold'?! I hear that a lot and also with respect to other commodities like gas - must be some type of contract price but how is it different from the price per ounce that goes up and down everyday with the market?! Plz educate -

Thx,
James

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1987 Mercedes 300SDL; SOLD
1985 Mercedes 300D; SOLD
2006 Honda Pilot - wife's ride; 122K;
1995 Toyota Land Cruiser - 3X locked; 182K