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That was the highest close for the spot contract since March 13.
Spot contracts - buy or sell a currency for immediate delivery.
Spot contracts are suitable if you want to receive your currency quickly and efficiently.
The last time the spot contract closed below $30 was on Oct. 23.
The spot contract, for March delivery, closed at the day's high of $6.008 an ounce.
This is in contrast to a spot contract, which is an agreement to buy or sell an asset today.
For immediate trades, such as spot contracts, we need to receive full payment within five days following agreement of the transaction.
The daily price limit is 20 cents in wheat contracts that are not spot contracts.
The spot contract ranged from a low of $17.28 to a high of $18.56.
Gold spot contracts for June delivery declined $3.70, to $374.20 an ounce.
There are no price limits on the spot contract because it provides hedgers and traders with a means to escape or reduce losses.
It cleared some $3.5 trillion in futures and spot contracts last year - much more than all the world's other metal exchanges combined.
Copper concentrate is traded either via spot contracts or under long term contracts as an intermediate product in its own right.
Until yesterday, the biggest one-day drop in gold since 1983 came last March 26, when the spot contract tumbled $23.10, to $365.80.
Meanwhile, the spot contract for unleaded gasoline plunged further, losing 2.46 cents a gallon, to 58.43 cents.
The "spot contract" - the one that matures soonest, in this case the May contract - always trades without such limits.
The technicians sold, driving the December contract down to a close of $412.20, although the spot contract held up, settling at $408.40.
March wheat fell 16 cents, to $4.80 a bushel, the lowest price for a spot contract since Sept. 27, with commodity funds selling huge amounts.
The new active Comex spot contract, for April, settled at $411.80, down $6.40.
The drop in the price of spot gold was the largest since Feb. 28, 1983, when the spot contract plunged $42.50, to $400.50.
The operating conditions make short-term or spot contracts highly risky; stockpiling is uneconomic, because bauxite has few alternative uses.
The company operates its fleet as a mix of spot contracts (single-voyage) and period contracts (fixed-term).
The spot July contract settled at $369.10 an ounce, the highest settlement of a spot contract since May 22.
The Comex's expiring spot contract for July gold delivery lost $2.40 an ounce, to $437.80.
On the New York Mercantile Exchange, the spot contract for May delivery climbed above $20 a barrel.