Interval International Gold Price
The international gold price is the price at which gold is traded on the global market. It is determined by a variety of factors, including supply and demand, interest rates, and geopolitical events.
The price of gold is typically quoted in US dollars per troy ounce. A troy ounce is a unit of weight that is equal to 31.1034768 grams.
The international gold price is set by the London Bullion Market Association (LBMA). The LBMA is a trade association that represents the interests of the global gold market. The LBMA sets the gold price twice a day, at 10:30 AM and 3:00 PM London time.
The LBMA gold price is the benchmark for the global gold market. It is used by gold dealers, jewelers, and other businesses around the world.
The international gold price has been on a rollercoaster ride in recent years. In 2011, the price of gold reached a record high of $1,900 per troy ounce. Since then, the price has fluctuated significantly, but it has generally trended downward.
The decline in the gold price has been driven by a number of factors, including rising interest rates, a strong US dollar, and increased supply from new mines.
Despite the recent decline in the gold price, it is still considered a safe haven asset. Investors often buy gold during times of economic uncertainty. This is because gold is a physical asset that cannot be devalued by governments or central banks.
The international gold price is a key indicator of the global economy. It is watched by investors, businesses, and governments around the world.
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