In plain terms, the spot price is the current market clearing price at which raw precious metals are valued. It is the baseline benchmark used globally and fluctuates every few seconds during market hours based on high-volume trading in the futures markets (like COMEX). Note: Consumers don’t buy at exactly "spot.” It serves as the foundation upon which premiums are added.

Several forces are always pulling on the price at once. Supply and demand is the big one: how much metal is being mined and refined versus how much buyers around the world want. Central bank policy matters too, because interest rates and currency strength influence how attractive physical metals look compared to other assets. Geopolitical tension, inflation expectations, and large institutional trades can all shift the price in a given session. No single factor controls it. The spot price is a real-time snapshot of how the global market is weighing all of those inputs at once.

Not exactly. Spot reflects the value of the raw metal itself, set by global investment and industrial demand. Refining and manufacturing costs turn that raw metal into a finished bar or round, and together they make up the wholesale price: what KEPM acquires the product for. Your final cost is that wholesale price plus KEPM's transparent 8% premium. Investment-grade bullion only, not overpriced collectible coins. When you're ready to sell back through KEPM, current KEPM clients pay 0% commission at the current market price. Third-party custodian, storage, and shipping fees may apply.

‍

We focus exclusively on bullion because it keeps more metal in your hands and gives you fair value when it's time to sell.

‍

Want the complete picture? Here's how our pricing compares to other dealers, dollar for dollar.

‍

Trading commodities and precious metals involves substantial risk of loss and is not suitable for all individuals. Past results are not necessarily indicative of future results.

‍

Most dealers charge markups of 25 to 50% on collectible or semi-rare coins, plus additional fees when you sell. KEPM charges a standard 8% over wholesale on investment-grade bullion, and current KEPM clients pay 0% commission when they sell to KEPM. At markups above 25%, far more of each dollar goes to the dealer instead of the metal. We encourage you to get quotes from other dealers and compare them to ours. We publish our pricing because the comparison works in your favor.*

*8% above wholesale when you buy; 0% seller's commission for current KEPM clients when you sell through KEPM. Third-party custodian, storage, and shipping fees may apply. See kepm.com/pricing for full pricing terms.

The gold-to-silver ratio tells you how many ounces of silver it would take to buy one ounce of gold at current prices. If gold is trading significantly higher relative to silver, the ratio is high; if silver gains ground, the ratio compresses. Some investors watch this number as one signal among many when deciding how to balance gold and silver in their holdings. It doesn't predict where prices are headed, but it can offer useful perspective on how the two metals are valued relative to each other at any given moment.

‍

Trading commodities and precious metals involves substantial risk of loss and is not suitable for all individuals. Past results are not necessarily indicative of future results.

‍