What is the price of gold today3/26/2023 ![]() ![]() The most common reason for an increase in gold rate is the rise in economic and geopolitical uncertainty. Gold prices can also drop if the ETF demand for gold goes down. Similarly, when there is news of an increase in GDP, then gold prices drop. Normally, gold rates fall when the dollar strengthens or when equities are robust. However, an important factor in gold and silver pricing globally is the gold/silver ratio. Silver, is more of a commodity with extensive industrial application. Gold is more of a precious metal which is a safe haven asset class. Gold is inversely related to dollar and equities. This leads to a spike in the price of gold as it is seen as a safe haven asset. Frequently Asked Questions (FAQ) on Gold RatesĪ number of factor go into the pricing of gold jewellery demand is one factor, but the most important factor is economic or geopolitical uncertainty. Lower carat gold consists of a mix of gold with silver, nickel and zinc. Hence for jewellery with studded stones or diamonds, normally lower purity gold of 18-carat or 14-carat is used. ![]() However, even 22-carat gold cannot hold diamonds and studded gems. The most popular for gold jewellery is 22-carat gold which has 91.67% purity. Hence 24-carat gold is rarely used for jewellery as daily wear and tear will make it lose shape. Higher the purity, more malleable and softer will be the gold. ![]()
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