What Factors Affect Precious Metal Prices?

The price of gold is calculated by weight. There are several methods of weighing in the precious metals and gemstone markets. The most commonly used is the Troy Scale (TROY). An troy ounce is approximately 31.10 grams; a regular troy ounce is approximately 28.35 grams.

Gold price

The price of gold is calculated by weight. There are several methods of weighing in the precious metals and gemstone markets. The most commonly used is Troy, a

There are three main types of price of gold in the world: market price, production price and quasi-official price. Other types of gold prices are derived from this.

To determine whether the major trend of the gold market is up or down, fundamental analysis is often required. There are many factors that affect the price of gold. Investors need to analyze one by one to determine the main factors. The following will list the factors that have a greater impact on the international gold price trend.

On September 6, 2011, after the gold price hit a record high of 1922 US dollars, the day's closing price of gold was 1873 US dollars per ounce. In a decade, the price of gold rose by 669%. ^[1]

On August 26, 2019, gold exceeded $ 1,550 per ounce, and the highest rushed to $ 1,554.56 per ounce. Since this year, gold has risen more than 20%, and has become the most "hard core" safe-haven asset. ^[2]