Gold Price - trader vs. investor/consumer
I am not an investor, but just doing this research for a project here -
Does the price of gold differ depending on whether it is traded as a commodity at MCX/NCDEX or is purchased as a regular consumer from banks or from jewellers?
Also, how frequently does the price change? As a commodity, I believe the price changes by the minute (spot price). But, how does the price work for the consumer segment? I checked this site of a popular south Indian jeweller (princejewellery.com ) and there, the price of gold is given "for the day". I am little confused about what I should be quoting if I were asked for the price of gold. Is it the commodity spot price or the daily rate quoted by such jewellers?
Thanks a lot.
I am not an investor, but just doing this research for a project here -
Does the price of gold differ depending on whether it is traded as a commodity at MCX/NCDEX or is purchased as a regular consumer from banks or from jewellers?
Also, how frequently does the price change? As a commodity, I believe the price changes by the minute (spot price). But, how does the price work for the consumer segment? I checked this site of a popular south Indian jeweller (princejewellery.com ) and there, the price of gold is given "for the day". I am little confused about what I should be quoting if I were asked for the price of gold. Is it the commodity spot price or the daily rate quoted by such jewellers?
Thanks a lot.