Spot Gold and Silver Prices Drop Sharply in Early Trading
Spot gold fell more than 1% to $4,582.55 per ounce, while spot silver declined more than 3% to $70.21 per ounce, according to the provided market update.
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Terms & Concepts
Spot price: The current market price for immediate purchase or sale of an asset.
Per ounce: A standard pricing unit in precious metals markets, referring to the value of one ounce of metal.