What determines gold price?
By magic9
@magic9 (980)
China
December 17, 2009 9:41am CST
Does anyone knows what affects gold price? or is there anyone who is majoring in economics?
I am watching gold price, have no clue how to invest in gold market and make profits from it. but it's intersting to watch its changes in different moment in each day.
3 responses
@kail2001 (249)
• India
17 Dec 09
Hi magic...Gold is a commodity and
bought and sold on the
exchange by people like you
and me. It is people like you
and I that determine the price
of gold by either purchasing
or selling gold on the open
market. Supply and demand
play a major part of what the
current price is along with
global economic events such
as war, communism, and even
holiday events that require
jewelry that need to be made
from gold...
@kaylachan (69824)
• Daytona Beach, Florida
17 Dec 09
Gold price is often determined by qulity of the gold and what value byers and sellers will spend on it. That can be said for just about any product really. Good quility trumps everything else. If it doesn't look good it won't sell. It has to be stable and not look half-assed or anything of that nature as well. So if it seems like c r a p it probably is.
