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hi Im marki AXI welcome back to inside the vault following season 1 we did receive a lot of emails from viewers asking questions about how the spot price works how premiums work how total spreads work we used all these terms in some of our episodes and I realized that maybe some newer investors to precious metals didnt quite understand how the pricing mechanism works so I wanted to take the time today and explain when youre buying gold and silver how that total cost is determined and when it comes time to selling your gold and silver how that price is determined and what you should expect to receive for your metals so join me today inside the vault as we talk about spot price premiums discounts and total spreads [Music] [Applause] [Music] before the advent of live trading for precious metals people relied on what was called the London fixed price in the case of gold it was posted twice a day once in the morning once in the afternoon hours in the case of silver it was posted once no
