The current market price of an asset or commodity, essentially the price of the moment. This can move several times a minute. Everything traded on a market can technically have a spot price: from shares in Apple, to oil, to gold, to the market itself. Both the FTSE 100 and the S&P 500 will have spot prices that move constantly while the market is open, reflecting the overall value of the market.
A spot-price can be different to futures price. If people are buying gold for delivery in 3 months-time they might be paying at an agreed ‘futures price’ which is higher or lower that the current, spot price. Futures-prices and spot-prices help gauge an asset’s value and provide a pricing structure. Futures-prices are informed by previous spot-prices.