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 — that is, the lowest price at which buyers can immediately purchase in the market.
The ask price (also ask or offer price) is one of the two central price figures in precious metals trading. It denotes the price at which a dealer, bank, or market maker is willing to sell a precious metal. So anyone wishing to buy gold, silver, or platinum today pays the ask price — not the lower spot price in the narrow 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 | English | Meaning | Direction |
|---|---|---|---|
| Bid price | Bid | Price at which the dealer buys | Buyer gives up metal |
| Ask price | Ask | 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. The more liquid the market and the more standardised the product, the tighter this spread.
Spread = Ask Price − Bid Price
How Is the Ask Price Determined?
On the spot market for precious metals (e.g. at the LBMA in London or the COMEX in New York), the price results from supply and demand. Market makers — typically major banks and bullion dealers — continuously quote bid and ask prices. The ask price for private investors is composed, in simplified terms, as follows:
- Spot reference price (international market price in USD/oz)
- + currency conversion (e.g. EUR/USD, see exchange rates)
- + dealer premium/agio (production costs, logistics, profit margin)
- = ask price (the price you pay as a buyer)
The premium varies strongly by product: standard bars carry lower surcharges than investment coins, special mintings, or small denominations.
Practical Significance for Precious Metal Buyers
When buying precious metals through dealers, banks, or online platforms, you usually only see the selling price — that is the ask price including all surcharges. The underlying spot price can be viewed on price pages such as the gold price overview.
Important rules of thumb:
- Tight 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 on sale = bid price (lower than the ask price at which you bought)
The buying price — that is, what you receive on resale — 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 (ask) 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 metals position.