A business commentator reports that the "spot price of gold is $1,820.54 per ounce". This means:
A) Investors wishing to purchase gold futures will have to pay $1,820.54 per contract.
B) The difference between local and international gold contracts is $1,820.54.
C) The future price for an ounce of gold is $1,820.54 per ounce.
D) The current price for an ounce of gold is $1,820.54.
E) The average price in all international markets for an ounce of gold is $1,820.54.

Question

Quizplus · Accepted Answer

The statement "spot price of gold is $1,820.54 per ounce" refers to the current price for an ounce of gold. Therefore, option D is the correct answer. Option A refers to the price of gold futures, which may be different from the spot price. Option B and E are not supported by the information given. Option C refers to the future price of gold, which cannot be determined from the spot price.

A Business Commentator Reports That the "Spot Price of Gold