Gold prices are set all over the world. Gold is a financial commodity traded all over the world. Gold prices are not determined locally
Gold prices are constantly changing all over the world, in motion. The price of 1 gram of gold is made around the world on a 24-hour basis. Instant prices vary and can be quickly converted into cash. In short, economic developments all over the world affect gold prices.
WHAT IMPACTS GOLD PRICES?
The country that gives the most effective direction to gold prices is the USA. Economic events in America, policies of institutions in America, ups and downs affect gold prices. With the effects of the crisis in America in recent years, gold prices have increased and their effects still continue. The change of gold prices as an investment instrument depends on these factors.
HOW CAN GOLD PRICES BE IN THE CRISIS PERIOD?
Gold has price effects in the field of jewelery, namely jewelry. Around 3000-3500 tons of gold need arises all over the world. World Turkey, India and countries are showing strong demand for jewelry in countries such as China. This demand may be seasonal or generally needed. In these countries, gold prices may be affected by the need for gold in the spring and summer months in the wedding seasons. The industrial need for gold also has an impact on gold prices, although it is not as effective as other factors. During the crisis, the demand for gold and industry decreases. Because in this period, demand decreases as gold prices increase very much. Investment demands increase, which is effective in the rise of gold prices.
DOES THE VALUE OF THE DOLLAR AFFECT?
In international markets, the value of gold is expressed in dollars. Accordingly, the decrease or increase in the value of the dollar affects the gold prices. When the dollar gains value compared to the euro, the gold prices decrease, if the dollar depreciates against the euro, the gold prices increase.
Gold has always been a safe haven in crisis settings. Gold is always a liquid and self-investing instrument. Money can be obtained anywhere in the world
so the real money is gold. the dollar affects the price but cannot exceed