What does Spot Price mean?
The price at which a physical commodity for immediate delivery is selling at a given time and place Spot price is the current price for present delivery. It is the price of a given commodity being traded on the spot market. Spot price refers to the current price of a security or commodity at which it can be bought/ sold for immediate delivery at a particular place and time. It is also known as cash price.
Futures Knowledge Explains Spot Price
Spot Price is the current price of a commodity; the price at which it is bought and sold today. The cash price includes all transaction costs. Spot prices are used also as a base indicator for pricing future contracts.