Alexis Questions Episode 003: Alexis Questions... Premium & Spot Prices!

Today, Alexis asks:

What determines the spot price and of gold and other precious metals?
How is premium price determined? Further, how does the premium price relate to spot price?
Why do premiums sometimes go up, as the spot price goes down?
What might happen to gold and silver premiums during a time of hyperinflation?

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Topics Discussed: gold standard, money, economics, economy, finance, currency, paper money, fiat currency, gold, silver, premium price, spot price, exchanges, futures market, gold futures market, silver futures market, rising premiums on gold, federal reserve, government minting, private minting, hyperinflation, inflation, cost of doing business, gold and silver dealers, business, profit, profit incentive, rising premium, falling spot price