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Kitco Live Gold Prices Challenge

Watch our real-time spot price charts side by side Kitco live gold prices below to see how market data really should be displayed.

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You get access to even better real-time global precious metals market data when you create a Central Holding with GoldVu, as you will then see the true price of physical bullion with the premium attached, not just the paper spot price. With a Central Holding, you can search and buy the cheapest wholesale bullion offered on 9 individual institutional precious metals markets worldwide at the tightest spreads in the industry.

Our improved market data streaming offers you greater financial benefits as you can take the appropriate action when you see the actual move in the markets.

The Kitco live gold prices and charts are 'delayed live' and are only updated once every 1-2 minutes (as said on their website). Their prices are not streamed from the market 'real-time' as our spot pricing data and charts are.

Anything other than real-time means that your decisions and actions are behind the curve. Delays in receiving critical data from the markets can have severe impacts on you finances. So why use Kitco’s prices and expose yourself to unnecessary risk and stress?

It therefore stands to reason that using the Kitco live gold prices which people to add to their websites may not be the ideal source of data for the purpose of market analysis. Why would anyone wish to use even 30 second old data when a real-time data stream is available?

So, just in case you don't believe me...it's time for our challenge!

Rules of the Kitco Live Gold Prices Challenge

To keep it fair, I have applied the following rules to the bout:

  1. The same precious metals are displayed:  Gold, Silver and Platinum
  2. Prices used:  Spot
  3. Same currency used:  $US Dollar
  4. Same weight category:  Troy Ounces

The data sets are sitting side-by-side for ease of comparison. Simple!

The contestants

  • GoldVu's real-time streamed prices are on the left
  • Kitco live gold prices are on the right

You will be able to easily see an obvious difference between the two price movements as the Kitco live gold prices are only updated each minute and GoldVu's prices will be chattering away real-time as and when each change occurs in the markets.

Pick a price that our real-time prices are at and wait to see how long it takes for Kitco to then show that same price.

Place your bets...who do you think is going to win, Kitco or GoldVu?

(When taking my own challenge, I found something interesting about Kitco's prices which have been written about further on after the charts below.)

Kitco Live Gold Prices vs GoldVu - Let the Contest Begin...

There are a few seconds delay at first start-up as the real-time connection is being established and the prices are being fetched.

Take as long as you need, and enjoy...

PS. Make sure the chart timelines are on 1d.

Gold Ounce USD$

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Silver Ounce USD$

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Platinum Ounce USD$

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Gold Silver Ratio

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Kitco doesn't offer a comparative graph I can use here. Instead you have to go to this Kitco page to see any gold / silver ratios, and their ratios are similarly delayed.

So...who won, was it a close call or was there a clear winner?

Kitco's Displayed Price 

To double check that the challenge was working, I checked the comparisons over several days and I noticed a price differential between ours and the Kitco live gold prices that only became apparent to me when the markets were closed over the weekend. If you aren't familiar with the various prices available then you may not think much of it, but it is an important difference if you wish to use it for making trading decisions.

  • Kitco shows the Bid price
  • GoldVu shows the Spread price

There are 3 basic prices available for any one asset; Bid, Ask, Spread.

Bid is the price that the buyer is offering to the seller. Ask is the price that the seller wants the buyer to pay. Spread is a point in between the Bid and Ask (it shouldn't be an exact middle point but more to do with weighting of the Bids and Asks, which means the Spread could sit either side of the middle price).

In my opinion, if you were only to use a single price then it should be the Spread, not the Bid or Ask. If you wanted to buy or sell gold, then you should take into consideration what the other party's price position is. 

Why?

Time for examples:

  • You want to buy an ounce of gold and Bid $1 for it but all sellers are asking $1500, your order is never going to be filled. 
  • You want to sell an ounce of silver for $500 but all buyers will only offer $20, your order is never going to be filled.

So how do you go about placing sensible prices for your order? Referencing the Spread price between the Bid and Ask prices is good place as it's a balance between the 2 parties.

In reality, the difference between the Bid and Ask price is normally quite small (as a percentage of the price), but at least it provides you with a more realistic starting point for trading, which is why I was quite surprised to see that the Kitco live gold prices used Bid prices only.

Each to their own I suppose. Ultimately the choice of which price to be guided by is yours, so I leave it to you to consider.

GoldVu's Real-Time Prices & Interactive Charting

We have pages that show real-time prices for both spot and futures markets. Our main spot market summaries page show prices for precious metals, commodities, world markets and currencies. It's a good page to bookmark so you can get quick snapshots of what is going on real-time in the markets.

Furthermore, we have a comprehensive interactive chart that you can use for in-depth technical analysis of the markets. Don't worry if you've not used one before as I've added instructions on how to use them to get you started.

Don't forget - for even better real-time pricing that gives you detailed information on 16 individual wholesale precious metals markets and their individual bullion products, create a Central Holding with GoldVu:

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New! Comments

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New! Comments

Have your say about what you just read! Leave me a comment in the box below.

Please Note: All comments are moderated and manually reviewed for spam. In turn, your comment may take up to 24 hours to be posted. GoldVu.com also reserves the right to edit comments for grammar and spelling errors.

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