Bullion vs Spot

[Schopen]

Is there a difference between the 'spot gold price' and the 'gold bullion price', or do they refer to the same thing?

How many spot gold prices are there? Just the LME?

 

[Schopen]

Ah, okay not LME..

I'm trying to categorise ETFs, I have some defined as on the 'Gold bullion' price and some as on the spot price, does this mean bullion price and spot price are synonymous?

Spot price of Gold
(ETFS Physical Gold ETF LSE PHAU)
(ETFS Physical Gold Sterling ETF LSE PHGP)

Price of gold bullion
(iShares COMEX Gold Trust ETF AMEX IAU)
(ProShares UltraShort Gold ETF AMEX GLL)
(streetTRACKS Gold Shares ETF AMEX GLD)
(Lyxor Gold Bullion Securities ETF LSE GBS)

 

[zerozero]

Hi Schopen, I'm gonna make an amateur's response to your question.

Disclaimer: I'm no expert, I'm just here to learn.

My interpretation is that "bullion price" is a more "generic" term than "spot price."

For example, over the course of one trading day, the "bullion price" can be "fixed" in New York, London, Hong Kong or anywhere else there is a "market" or an "exchange".

Those would all be "bullion prices" but they might change through the day as certain markets open and close, thus affecting the "spot price".

I hope that helps.
Good luck to you.