What does gold spot mean?

I am using admiral markets practice account to trade silver and gold and the gold option is Gold spot (100 oz) vs US Dollar. Probably a really stupid question but what does it mean by spot?

Also what is the difference between WTI Crude Oil and Brent Crude Oil?

http://www.investinganswers.com/financial-dictionary/stock-market/spot-price-2007

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Bradleyule said:

I am using admiral markets practice account to trade silver and gold and the gold option is Gold spot (100 oz) vs US Dollar. Probably a really stupid question but what does it mean by spot?

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The spot gold price refers to the price of gold for immediate delivery. In other words, if you walk into a bullion dealer off the street and take out your wallet, the spot gold price is close to what you’ll pay for a gold coin or bar.

Bradleyule said:

Also what is the difference between WTI Crude Oil and Brent Crude Oil?

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WTI is Oil mined in USA and Brent is normally outside USA, WTI is cheaper due to shipping, as in its mined in USA and normally delivered in the USA where as BRENT is mined all over and then has to be shipped world wide. WTI is traded on the New York Mercantile Exchange whereas Brent is Traded on the ICE London Exchange.

Brent = is the leading global price benchmark for Atlantic basin crude oils. It is used to price two thirds of the world's internationally traded crude oil supplies.

WTI = West Texas Intermediate (WTI), also known as Texas light sweet, is a grade of crude oil used as a benchmark in oil pricing. This grade is described as light because of its relatively low density, and sweet because of its low sulfur content. It is the underlying commodity of New York Mercantile Exchange's oil futures contracts.

Bradleyule said:

I am using admiral markets practice account to trade silver and gold and the gold option is Gold spot (100 oz) vs US Dollar. Probably a really stupid question but what does it mean by spot?

Click to expand...

The spot gold price refers to the price of gold for immediate delivery. In other words, if you walk into a bullion dealer off the street and take out your wallet, the spot gold price is close to what you’ll pay for a gold coin or bar. The spot gold market is active and trading for almost 24 hours a day. (Unlike the New York Stock Exchange, for example, which closes overnight.)You’ll pay a little more than the spot price, because manufacturing and distribution costs are added to the cost of the coin or bar, plus a small commission for the dealer.

Current market price.