Ask Price
Also: Ask, Offer Price, Selling Price (Dealer), Ask Rate
The ask price is the price at which a dealer or market maker sells a precious metal — i.e. the lowest price at which buyers can immediately purchase in the market.
The ask price (also: ask or ask rate) is one of the two central price figures in precious metal trading. It refers to the price at which a dealer, bank, or market maker is prepared to sell a precious metal. Anyone wishing to buy gold, silver, or platinum today pays the ask price — not the lower spot price in the strict sense, but the selling price quoted by the provider.
Ask Price and Bid Price — the Price Pair
In professional trading, two prices are always quoted simultaneously:
| Term | Meaning | Direction |
|---|---|---|
| Bid Price | Price at which the dealer buys | Seller delivers metal |
| Ask Price | Price at which the dealer sells | Buyer receives metal |
The difference between the two values is called the spread and represents the trading margin of the intermediary dealer. The more liquid the market and the more standardised the product, the narrower this spread.
Spread = Ask Price − Bid Price
How Is the Ask Price Formed?
In the spot market for precious metals (e.g. at the LBMA in London or the COMEX in New York), the price is determined by supply and demand. Market makers — typically large banks and bullion dealers — continuously quote bid and ask prices. The ask price for private investors is broadly composed as follows:
- Spot reference price (international market price in USD/oz)
- + Currency conversion (e.g. EUR/USD, see Exchange Rates)
- + Premium/agio of the dealer (production costs, logistics, profit margin)
- = Ask price (the price you pay as a buyer)
The premium varies considerably by product: standard bars carry lower markups than bullion coins, special editions, or small denominations.
Practical Importance for Precious Metal Buyers
When purchasing precious metals through dealers, banks, or online platforms, you generally see only the selling price — that is the ask price inclusive of all markups. The underlying spot price can be viewed on price pages such as the gold price overview.
Key rules of thumb:
- Narrow spread (e.g. 0.3–0.5% for large bars) → efficient, liquid market
- Wide spread (e.g. 3–8% for small coins or special products) → higher trading costs
- Price when selling = bid price (lower than the ask price at which you bought)
The buying price — i.e. what you receive when reselling — can be calculated with the buying price calculator. The melt value calculator can be used to determine the pure metal value of your piece.
Ask Price vs. Fixing Price
The ask price is a continuously updated trading price and differs from the twice-daily LBMA fixing, which serves as the official reference price for delivery contracts and valuations. During the trading day, the ask price can deviate significantly from the fixing price.
In Brief
The ask price is the price buyers pay — always higher than the bid price that dealers offer on repurchase. The difference (spread) is the invisible trading fee: the wider the spread, the more expensive it is to enter and exit a precious metal position.