Fixed Pricing Historical Table
The Texas Comptroller of Public Accounts sets the official exchange rate by which transactions in precious metals at the Texas Bullion Depository are priced. The official exchange rate is currently based on the daily spot price, Monday through Friday, effective as of 3:00PM Central Time, USA. When financial markets are closed due to a federal or banking holiday the price from the previous business day shall be used. In the event of technical malfunction in the spot metals pricing system the same rule shall apply, and the price from the previous business day shall be used to price daily storage fees.
Spot precious metal prices originate from futures contracts traded through the COMEX exchange.
The spot price is largely determined by the nearest term futures contract with the most trading volume. So, for example, if the contract for gold futures in the month of August has the most trading volume it would indicate that market participants are using the August contract for conducting business, such as hedging or placing speculative trades. As such, the August futures contract price would therefore be referenced as the spot price.
The spot price for precious metals is influenced by numerous factors including, economic information, events in the geopolitical world, actions by the Federal Reserve Bank and other factors.