'Spot' buying is purchase for immediate delivery, as opposed to delivery in three or six months' time (for example). The distinction is often particularly important in the commodity and currency markets.

A spot contract, spot transaction, or simply spot, is a contract of buying or selling a commodity, security or currency for settlement (payment and delivery) on the spot date, which is normally two business days after the trade date. A spot contract is in contrast with a forward contract or futures contract where contract terms are agreed now but delivery and payment will occur at a future date.

A pizza delivery driver will have to park in a parking spot or driveway to avoid getting a ticket.

The term "spot gold price" means that gold is purchased or sold for immediate payment or delivery. it is different than forward or future priced gold where the gold is bought or sold for future delivery.