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Understanding Precious Metal Terminology: Bid vs. Ask

Last updated 4 years ago

Investing in gold is a reliable way to increase your portfolio’s value and secure your financial well being, but if you’ve never done it before, you may be unfamiliar with terms commonly used within the gold industry. Two essential terms that you should know before buying gold are bid and ask. Like any other commodity, gold has a wholesale market price that sets the standard for its worth. Depending on the current demand for gold, its selling price may be significantly higher than the bid. This figure is referred to as the ask price and may fluctuate on a weekly or even daily basis. Key to making wise gold purchases is knowing the bid and trying to buy gold at an ask price that’s as close as possible to its wholesale market price.

Whether you’re new to gold investing or a seasoned veteran, Capital Gold Group can help you find the best gold and silver prices for your financial portfolio. Call our Los Angeles location at (800) 510-9594 to find out more on how to buy gold.

Disclaimer:

The representatives at Capital Gold Group are not financial advisors and the information provided in this blog should not be considered financial advice. The past performance of gold investments is not indicative of potential future gains.

 

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