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Investing 101 · Instruments

Spot price vs futures price: why every commodity has two prices.

10 min readUpdated May 2026

Every commodity has two prices: spot for immediate delivery, futures for future delivery. Why they differ, and which one applies to your investment.

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What this guide covers

Every commodity has two prices: spot for immediate delivery, futures for future delivery. Why they differ, and which one applies to your investment.

This guide is part of the Investing 101 series. Use the navigation below to read related guides, or go to the commodities directory to explore live price data.

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