The Gold Price vs. The Price of Gold

"Something different and, I believe, incredibly significant is happening here, and it goes back to that important distinction I made and promised to get back to: 'the gold price' vs 'the price of gold'.

'The gold price', as it is understood by most people, is nothing more than the quoted price of a gold futures contract on the COMEX exchange in the US. When you read that 'gold fell in overnight trading', what actually happened is that the price of a paper futures contract fell — not the metal itself.

'The price of gold', on the other hand, is what you will have to pay to get your hands on the physical metal itself, and that is a different thing altogether.

Despite the plunge in paper prices, 'the price of gold' remained remarkably robust." - Grant Williams