a measure of market liquidity, also known as bid/offer. The bid is the price level at which buyers are willing to buy, and the ask is the price level at which sellers are willing to sell. The thinner the spread, the higher the liquidity.
Bid” or “buy” is the price a dealer is prepared to pay for gold bullion. “Ask” or “sell” is the price offered by the seller. (See also definition of “Spread” below.)