Markets
Live prices,plainly explained.
Live spot prices for the metals we trade, regional exchange rates, and a simple guide to how each of our thirteen commodities is priced.
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How pricing works
Not everythinghas a spot price.
How each commodity is priced
Precious metals trade against public benchmarks. Gemstones are valued stone by stone or lot by lot. Industrial minerals and coal are priced on their laboratory specification.
| Commodity | Reference | How the price is set |
|---|---|---|
| Gold | LBMA Gold Price / spot | USD per troy ounce × fineness |
| Silver | LBMA Silver Price / spot | USD per troy ounce × fineness |
| Platinum | LBMA Platinum Price | USD per troy ounce of contained metal |
| Diamond | No public spot price | USD per carat, valued by size, colour, clarity and shape |
| Ruby | No public spot price | Per carat or per lot, by colour, clarity and treatment |
| Red garnet | No public spot price | Per carat (gem) or per tonne (industrial) |
| Green garnet | No public spot price | Per carat, by species, colour and clarity |
| Tsavorite | No public spot price | Per carat, mainly by colour |
| Tourmaline | No public spot price | Per carat or per specimen |
| Aquamarine | No public spot price | Per carat or per specimen |
| Mica | Negotiated | Per kilogram or tonne, by grade and sheet size |
| Rare earth metals | Oxide price assessments | Per tonne of concentrate, on contained rare-earth oxide (TREO) |
| Coal | Seaborne coal indices | USD per tonne, adjusted for energy content, ash and sulphur |
Units of the trade
Six terms worth knowing
- Troy ounce (oz t)
- 31.1035 grams. The unit for precious metals; heavier than an ordinary ounce (28.35 g).
- Fineness
- Purity in parts per thousand. 995 fine gold is 99.5% gold.
- Carat (ct)
- 0.2 grams. The unit of weight for gemstones. Not the same as karat, which measures gold purity in jewellery.
- TREO
- Total rare-earth oxides: the share of a concentrate made up of rare-earth oxides, as a percentage.
- kcal/kg
- Energy content of coal (calorific value). Higher means more heat per tonne and usually a higher price.
- Spot price
- Today's price for immediate delivery. Physical trades are priced off a stated spot or benchmark on an agreed date.