Market practice
Draft — not yet reviewedWhy wholesale gold is quotation-led
Reference prices describe a market. They are not the price of a specific wholesale transaction.
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Public reference prices are widely quoted, but they describe a market reference point rather than the terms of a particular transaction. A wholesale quotation reflects the specific requirements agreed between buyer and supplier.
What changes between one quotation and another
- The format and the quantity involved.
- The fineness and the documentation required.
- The verification and fulfilment arrangements agreed.
- The commercial terms, which are specific to each transaction.
This is why quotation-led supply is the normal structure for trade buyers: it allows each element to be stated explicitly rather than averaged into a headline number that may not reflect either party’s actual position.
It also means a quotation is only meaningful while its underlying assumptions hold. Where requirements change, the quotation should be revisited rather than adjusted informally.
Tell us your requirements and we will discuss product options, quantities and a quotation.