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MODIFICATION (MODIFICATION IN GOLD COST FROM PREVIOUS CLOSE) This is the modification in the cost of the metal from the previous close, which is not always the previous day. Weekdays from 6:00 PM NY time until midnight the previous close is from the present day. Here's why:  This Author  trading in New York on weekdays is for a 60 minutes period, from 5:00 PM New york city time until 6:00 PM.

Modification is always the difference in between the current cost and the cost at 5:00 pm. For instance: Gold last traded at $1,200 at 5:00 PM on January 17. If it is January 17 at 6:30 PM and the rate is $1,202, we will reveal a modification of +2. 00. If it is January 18 at 5:00 PM and gold is priced estimate at $1,225 then we would show a change of +25.

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GOLD FUTURES ALTER (MODIFICATION FROM PREVIOUS CLOSE) This is the modification in the rate of the metal from the rate at the end of the previous trading session. Presently, the weekday closing time is 2:00 PM Eastern Time. 1 MONTH CHG (30-DAY CHANGE) This is the modification in the cost of the metal from 30 days earlier as opposed from the previous close.

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HOW IS THE LIVE AREA GOLD PRICE CALCULATED? Every rare-earth elements market has a matching benchmark rate that is set on a daily basis. These criteria are utilized mostly for business contracts and manufacturer arrangements. These standards are computed partly from trading activity in the spot market. The spot rate is determined from trading activity on Over-The-Counter (OTC) decentralized markets.

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Although these aren't controlled, monetary institutions play an important role, serving as market makers, supplying a quote and ask price in the area market. I'VE HEARD THAT GOLD TRADED 24/7 IS THAT REAL? EXISTS AN OPEN AND A CLOSE? Gold, actually trades 23 hours a day Sunday through Friday.

m. and 6 p. m. eastern time where no market is actively trading. However, regardless of this one hour close, due to the fact that area is traded on OTC markets, there are no main opening or closing prices. For bigger transactions, the majority of rare-earth elements traders will utilize a benchmark price that is taken at particular durations during the trading day.