Gold council fix the price of the gold in which way/method?

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Gold council fix the price of the gold in which way/method?

2006-10-07 00:50:49 · 2 answers · asked by saran 1 in Business & Finance ➔ Investing

2 answers

I'll summarize Econ 101 for you:
In all free markets, price is determined by Supply and Demand.

You may be referring to a reporting function of differences of gold prices in different markets or in different parts of the world. The word "fix" sounds like a conspiracy, and implies that someone actually "controls" the price of oil.

What you may mean, is who "determines" the closing price for reporting purposes. That would be part of the function of the Gold Council, to record and report gold prices.

2006-10-07 05:05:12 · answer #1 · answered by dredude52 6 · 0⤊ 0⤋

The price of gold is determined by supply and demand.

2006-10-07 07:54:55 · answer #2 · answered by Oh Boy! 5 · 0⤊ 0⤋