Gold is traded in the spot market, and the gold spot price is quoted as US dollar per troy ounce. Gold is traded continuously throughout the world based on the intra-day spot price, derived from over-the-counter gold-trading markets around the world

The price of silver is driven by speculation on supply and demand mainly by large traders or investors, short selling, industrial, consumer and commercial demand, and to hedge against financial stress. Compared to gold, the price of silver is notoriously volatile. This is because of lower market liquidity, and demand fluctuations between industrial and store of value use.

Copper is one of the main cyclical precious metals, given its extensive usage in construction, infrastructure and an array of equipment manufacturing. The biggest end-use is the production of cables, wiring, and electrical goods because of its excellent electricity conducting properties. The construction sector is the second largest user of copper. Although found in abundance and widely extracted as well as recycled, the copper value chain is quite capital intensive.