silver close

[joe454]

I like keeping track now that I am buying silver bullion. A few rounds here and there.

I try to record daily closing costs? but, i really don't understand it.

Bid, ask, spot,, are any of these daily closing costs? Searched around and see meanings for these but, none mention whether they are closing cost of silver.

Help... Thanks Joe

[AguA]

I like keeping track now that I am buying silver bullion. A few rounds here and there.

I try to record daily closing costs? but, i really don't understand it.

Bid, ask, spot,, are any of these daily closing costs? Searched around and see meanings for these but, none mention whether they are closing cost of silver.

Help... Thanks Joe

Definition of 'Closing Price'
The final price at which a security is traded on a given trading day. The closing price represents the most up-to-date valuation of a security until trading commences again on the next trading day.

Read more: http://www.investopedia.com/terms/c/closingprice.asp#ixzz1mDwZlivh

I've used Investopedia as a reference for myself ever since I found GIM. It hasn't let me down yet and I find it to be pretty user friendly. Plenty more info where that came from.

From what I've seen, there is no one specific closing price out there. More like a small range depending on which index you or the seller uses that can vary by a few cents to a couple of bucks. Sellers to you will tend to go off of Ask price. At most, I use Bid price to estimate where I stand in holdings.

Hope it helps.

[EO 11110]

I like keeping track now that I am buying silver bullion. A few rounds here and there.

I try to record daily closing costs? but, i really don't understand it.

Bid, ask, spot,, are any of these daily closing costs? Searched around and see meanings for these but, none mention whether they are closing cost of silver.

Help... Thanks Joe

money doesn't sleep anymore

might look at going to a weekly close on friday afternoon. the pm market is moving 24/7 except from friday afternoon to sunday afternoon

[joe454]

I know what closing time and closing cost meaning is but, when at the close on Friday and they list Bid , Ask , Spot. Which one of them is considered the closing cost..the value of and ounce of Silver.. Thanks , JOe

[Tinbox]

I know what closing time and closing cost meaning is but, when at the close on Friday and they list Bid , Ask , Spot. Which one of them is considered the closing cost..the value of and ounce of Silver.. Thanks , JOe

i think most people would use the Spot price to determine a sale via private transaction. If your buying from a website or any precious metals dealer I think you will usually be paying the Ask price.

[fewferfev]

I know what closing time and closing cost meaning is but, when at the close on Friday and they list Bid , Ask , Spot. Which one of them is considered the closing cost..the value of and ounce of Silver.. Thanks , JOe

Bid and ask are efforts between buyers and sellers try to come to an agreement on price and action. It is a work in progress. Spot is the price of physical if you were to go purchase it at your local coin dealer. Spot is the price that buyers and sellers have settled on for any given moment in time. Spot changes regularly and that is why your dealer should exhibit a live chart on the wall for you to know what spot is at the time of purchase. Not sure if this helps. If not, maybe you could expand your question.

[joe454]

No, Helps allot. So when the market closes for the day, Spot would be the closing value.
Also, I like the way it was put,,,

"Bid and ask are efforts between buyers and sellers try to come to an agreement on price and action"

Thanks, all I know is I'm hooked on buying there darn silver rounds...LOL, Joe

[voodoo1951]

Ag...Its almost as addictive as Hookers and Blow...!!! :biggrin:

[lightcycler]

alot of people use www.kitco.com for a reference for spot.

[joe454]

alot of people use www.kitco.com for a reference for spot.

Yupper, Installed it on my desk top, very helpful. Joe