Spot Price

The spot price is the current market price for a commodity or asset if you were to buy or sell it immediately. It reflects current supply and demand conditions and can fluctuate frequently. For example, the spot price of gold indicates how much one ounce of gold costs at this very moment if you were to purchase it today. This price is used as a reference point for trading, investing, and contracts, serving as a snapshot of the asset's value in the open market at any given time.