If a screen says gold is worth one amount, and the amount you can actually deal is another, both can be accurate. They are answering different questions.
A reference is not an offer
A published price, such as the LBMA gold price, is a wholesale reference from a set auction. It is not standing behind your account waiting to fill an order. GXLD does not claim that reference as its own quote.
Valuation
A valuation estimates what a holding might be worth, using a stated price and the grams on the record. It can be useful on a statement. It does not oblige anyone to buy the gold from you, and it does not include the fee, the spread or the payout that a real sale would have.
The quote you can accept
An executable quote is the one that names the grams, the money, the costs and the time it remains open. The buying quote and the selling quote differ because the dealer, the provider or the platform is not taking the same side of the trade. The gap between them is the spread, before any separate fee.
An illustrative gap
Suppose a reference is 100 euro a gram, used only as a label. A buy quote might be 101 and a sell quote 99, with a further fee on each. You would pay more than 101 to buy, and receive less than 99 if you sold, once the fee is taken. Those numbers are an example so the words have something to attach to. They are not a GXLD tariff. Approved costs, when they exist, are disclosed on the quote, as Fees explains.
Premium
A premium is the amount above the metal reference that pays for fabrication, distribution or a smaller bar size. It is not the same thing as the spread, and it is not a GXLD product option. The Gold guide keeps those physical examples separate from what the account actually offers.
