A quote is a price indication showing the current bid and ask prices at which a security or commodity can be bought or sold. Quotes provide real-time market information including price levels, spreads, and often available quantities. Market makers and dealers provide quotes to facilitate trading and maintain market liquidity.

Quote quality varies based on market conditions, instrument liquidity, and quote provider. Firm quotes represent actual trading commitments, while indicative quotes provide market guidance without trading obligations. Understanding quote types and reliability helps assess market conditions and make informed trading decisions.

Real-world example: A gold dealer provides a quote of $1,850 bid / $1,855 ask per ounce, indicating they will buy gold at $1,850 or sell at $1,855, with the $5 spread representing their profit margin and market-making service.