The spot price is the current market price at which a particular asset can be bought or sold for immediate delivery and payment. In the context of the financial markets, it is the price at which a security or commodity is traded for settlement within two business days, or the value of a currency for immediate delivery. Spot prices are typically quoted for precious metals, such as gold and silver, as well as for commodities such as oil and agricultural products. In the forex market, the spot price of a currency pair refers to the current exchange rate for immediate delivery and settlement, rather than a future date.