Noun
spot price (plural spot prices)
(trading, finance) The price at which an asset for immediate delivery is selling at a given time and place.
A contract in backwardation will increase in value until it equals the spot price of the underlying at maturity. Source: Internet
A futures contract in contango will decrease in value until it equals the spot price of the underlying at maturity. Source: Internet
"A market is 'in backwardation' when the futures price is below the spot price for a particular commodity. Source: Internet
On two occasions, the spot price reached the market price cap of $14 700/MWh. Source: Internet
During the second quarter of 2020, the spot price of the exchange rate of the U.S dollar to the Canadian dollar fluctuated between a low of 1.34 and a high of 1.42. Source: Internet
If the spot price is lower than the futures price, the market is in contango." citation The futures or forward curve would typically be upward sloping (i.e. "normal"), since contracts for further dates would typically trade at even higher prices. Source: Internet