The current price in a marketplace that an asset (eg, a security, commodity, or currency) can be bought or sold for immediate delivery. Though spot prices are specific to both time and place, in a global economy the spot price of most securities or commodities tend to be fairly uniform (after accounting for exchange rates). This is in contrast to a futures price, which is an agreed upon price for the future delivery of an asset. Futures prices are commonly determined using the spot price of a commodity.
Spot Price
Market Terms
We don't know everything about the markets. We're just devoted to learning. Taken from those smarter than ourselves, here's how we define Spot Price.