Gold Prices, Why there is a fluctuation in Gold prices?
Gold
Gold is a chemical element and the atomic number of gold is 79. This metal recognized as a symbol of wealth. As a matter of fact, majority of the countries back up their currency with the physical gold. The United States of America hold the largest gold reserves- 8133 Tons.
Gold prices are changing always , there are variety of reason for this. If you want to see this you can check Gold Prices and after a few seconds you can clearly see that there is always fluctuation in these prices.
Gold is a chemical element and the atomic number of gold is 79. This metal recognized as a symbol of wealth. As a matter of fact, majority of the countries back up their currency with the physical gold. The United States of America hold the largest gold reserves- 8133 Tons.
Gold prices are changing always , there are variety of reason for this. If you want to see this you can check Gold Prices and after a few seconds you can clearly see that there is always fluctuation in these prices.
Why there is a fluctuation in Gold prices?
Following are some reasons responsible behind the price change of Gold.
1) Change in the value of currency: Each and every time currency appreciated or depreciated , it leads to the change in the price of the gold.
2) Import Duty on gold is also one of the contributing factor behind the change in gold prices.
3) Variation in Interest rates are inversely proportional to the gold prices. Demand of the gold always increases when the interest rate falls. On the opposite side, when interest rates up the demand of gold decreased.
4) when the value of currency falls during inflation, investor treated gold as a safe heaven.
5) Gold prices also affected by the demand and supply and Gold prices increases when there is a increase in gold demand.
Following are some reasons responsible behind the price change of Gold.
1) Change in the value of currency: Each and every time currency appreciated or depreciated , it leads to the change in the price of the gold.
2) Import Duty on gold is also one of the contributing factor behind the change in gold prices.
3) Variation in Interest rates are inversely proportional to the gold prices. Demand of the gold always increases when the interest rate falls. On the opposite side, when interest rates up the demand of gold decreased.
4) when the value of currency falls during inflation, investor treated gold as a safe heaven.
5) Gold prices also affected by the demand and supply and Gold prices increases when there is a increase in gold demand.
List of Countries with gold reserves:
Gold Producers:
China, Australia, Russia and the United States are the largest producers of gold in the world. In 2021, Global production of gold reached approximately 3,000 metric tonnes. China has also ramp up the Production from 320 metric tons to 370 metric tons in 2021.
China, Australia, Russia and the United States are the largest producers of gold in the world. In 2021, Global production of gold reached approximately 3,000 metric tonnes. China has also ramp up the Production from 320 metric tons to 370 metric tons in 2021.
Gold Price In Canada- May-June-July
