2006-07-03 01:47:37 · 7 answers · asked by The warrior 1 in Business & Finance ➔ Other - Business & Finance
The price of gold, like most things, depends on supply and demand. So...the increase in supply has been fairly steady. There have been no huge gold mines open up recently.
On the demand side things have changed a lot. In India and China, where there is a tradition of gold buying sales have increased. With economic prosperity the sales have gone up even faster. In the west gold has been an insurance against bad times. People are scared so they have been buying gold as well.
This all adds up to more demand than supply so higher prices.
How will it go back down again? Economic bad times in the Far East so they don't have the money to buy gold or peace and prosperity in the West so people aren't scared or a huge new supply of gold being found.
2006-07-03 01:50:39 · answer #1 · answered by CycloneSteve 3 · 0⤊ 0⤋
day by day the demand of gold increases...
and so the fuel rate too..
so the rate of the gold increases....
2006-07-03 01:53:29 · answer #2 · answered by maya 3 · 0⤊ 0⤋
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2016-12-08 15:13:53 · answer #3 · answered by gwinnjr 4 · 0⤊ 0⤋
Supply and demand. The more people want it, the higher the price goes.
2006-07-03 01:51:07 · answer #4 · answered by cirestan 6 · 0⤊ 0⤋
the simple rule of supply and demand
2006-07-03 01:51:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋
coz its quantity is less and it goes on decreasing...
know tht old...demand...supply...relation...! thats it.
also, due ot some gambles in market as well..and sometimes due to some natural calamities as well..!
2006-07-03 01:51:18 · answer #6 · answered by NO-HISTORY 2 · 0⤊ 0⤋
This occurs when people lose faith in money.
2006-07-03 01:53:11 · answer #7 · answered by ed 7 · 0⤊ 0⤋