Bullion Pricing, Delivery and Storage
How often are Knox bullion prices updated?
The short answer
Bullion prices are tied to the international metal price and the rand exchange rate, both of which move continuously while markets trade, so any dealer's prices change through the day. Knox sets its Krugerrand prices twice each business day, on a morning (AM) price and an afternoon (PM) price. A price displayed on a screen is a guide to the current level; the price that applies to your purchase or sale is the one confirmed under Knox's pricing and payment rules.
Why bullion prices keep changing
Gold, silver and platinum trade in markets around the world for most of the day on weekdays, and their prices are quoted in US dollars. The rand exchange rate also moves throughout the day. A bullion price in rand combines both, so even a small movement in either can change what a coin or bar costs. Prices can fall as well as rise.
What an update cycle means in practice
Dealers refresh their prices in different ways. Some update automatically from a live market feed, some update at set intervals and some confirm a firm price only when a client is ready to deal. Outside market hours, over weekends and on public holidays, prices may be held at the last level or updated less often, and premiums can be adjusted when markets reopen. The way Knox refreshes its prices is a matter of Knox policy and can differ between products.
A displayed price, a quote and a confirmed price
- Displayed price: a current indication shown on a pricing page or screen.
- Quote: a price given for a specific product and quantity, which may be valid only for a short time.
- Confirmed price: the price that applies once the order is accepted under the price-lock and payment rules.
What to do when you are ready to buy or sell
Check the live pricing page for a current indication, then contact Knox to confirm the price for your exact product and quantity. Ask how long the quoted price stands and what happens if payment is not received in time. If you are selling, remember that the final offer depends on inspection and testing of the item, not only on the published buy-back price.
How Knox handles this
Ready for the next step?
Speak to the Knox team about your situation. They will confirm current pricing, availability and requirements before you decide.
