What is the Bid price ?
The “bid” is the current highest price at which you could sell. In the other word, if you want to sell your gold, in generally, you can sell it closest to the bid price but not the bid price.
What is the Ask price ?
The ask is opposite of the bid. The “ask” is the current lowest price at which you could buy. As a rule, you buy it often higher than the ask price.
After realize the two terms, we should know another term “bid-ask spread”. The difference between the bid price and the ask price is called the “bid-ask spread”. If you would like to sell Silver, a broker will offer to buy it for the bid price. And if you would like to buy it, the broker will offer to sell it to you for the ask price. The spread is the broker’s profit. The ask price is always higher than the bid price, because nobody would like to lose money in business.
Don’t forget, the most important of bid and ask price is that buyers pay the ask price and sellers receive the bid price.
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