Compare a reference gold price, a dealer's retail quote, and the dealer's current buyback quote.
The premium is dealer retail price minus the entered reference price. Premium percentage divides that difference by the reference price. The buy/sell gap is dealer retail price minus the dealer's current buyback quote.
The Commodity Futures Trading Commission advises physical-metals buyers to compare retail price with spot/reference value, ask for the dealer's buyback price, and obtain fees, costs, commissions, and agreed retail price in writing.
CFTC: 10 Things to Ask Before Buying Physical Gold, Silver, or Other Metals
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