Spot Price
Spot Price refers to the current market price at which a particular Asset, commodity, or currency can be bought or sold for immediate delivery. This price fluctuates based on supply and demand dynamics in the market.
For example, if the spot price of gold is $1,800 per ounce, it means that a buyer can purchase gold at that price for immediate delivery.
In cases involving Commodities like oil, if the spot price of crude oil is $75 per barrel, it indicates that a buyer can acquire oil at this price for delivery right away, as opposed to a futures contract which would set a price for delivery at a later date.