The gold price today is an important indicator for the global financial markets and is traded daily on the international stock exchanges. Here you can always find out the current gold price today. The gold price can fluctuate greatly depending on supply and demand as well as other economic and political factors.
How is the current gold price calculated today?
The current gold price is determined by supply and demand on the international exchanges and trading centres. The price is usually quoted in US dollars per ounce (31.1 grams).
There are various factors that can influence the demand for gold, such as uncertainty on the financial markets, inflation expectations and demand from the jewellery industry. Supply is mainly influenced by production from gold mines and the sale of existing gold.
The calculation of the current gold price is a complex process that depends on various factors. As a rule, the price is calculated by large financial institutions and precious metal traders on the basis of market data and forecasts. The exact details of the price calculation can vary depending on the trading centre or provider.
How has the gold price developed in the last 2 years?
In the last 2 years, the gold price has developed strongly and fluctuated greatly. At the time of my knowledge (September 2021), the gold price per ounce was around US$1,750. Here is an overview of the main developments over the last 2 years:
- In March 2020, the gold price fell to a low of about US$1,470 per ounce due to the outbreak of the COVID-19 pandemic and related panic selling.
- In the following months, the gold price rose again and reached a new all-time high of over 2,000 US dollars per ounce in August 2020.
- In the course of 2020, however, the gold price fell again due to hopes of an economic recovery and rising risk appetite on the financial markets.
- In 2021, the gold price remained relatively stable, but continued to fluctuate due to uncertainties surrounding economic recovery and inflation expectations.
However, it is important to note that the future development of the gold price depends on many factors and is difficult to predict.
How will the gold price develop?
The gold price depends on many factors, such as the demand for gold as a hedge against inflation, central bank interest rate policies, the strength of the US dollar and geopolitical events.
Some experts believe that the gold price will rise in the future as the impact of the COVID-19 pandemic on the global economy continues to be felt and inflation expectations rise. However, others see further strengthening in the US economy and global equity markets, which could put pressure on the gold price.
It is important to note that the future development of the gold price is difficult to predict and depends on many factors. Investors should therefore weigh carefully before investing in gold and always have a diversified portfolio.