2006-11-02 23:08:06 · 5 answers · asked by vmk_1881 1 in Social Science ➔ Economics
The cost of gold, like any other good, depends on the cost to produce(mine) it and how much in demand it is.
2006-11-02 23:16:52 · answer #1 · answered by To Be Free 4 · 0⤊ 0⤋
There is no logic -- like in the share market. This is something call 'Fool's Theory'. One fool buys share today only to be sold to another fool who pays higher price to him. All logic like demand and supply goes out of window in trading. SO the price fluctuates to make some fools make money and an equal nos to loose money.
2006-11-02 23:17:20 · answer #2 · answered by rups 3 · 0⤊ 0⤋
The need for gold increases while its availability on earth decreases... The persons who get gold from earth are taking great effort to find it out and so they sell it at a great cost.............
2006-11-02 23:40:10 · answer #3 · answered by Anto Marshal 1 · 0⤊ 0⤋
The weakened dollar.
2006-11-02 23:16:54 · answer #4 · answered by Dubz101 3 · 0⤊ 0⤋
Because of supply and demand
2006-11-02 23:25:02 · answer #5 · answered by Latin Techie 7 · 0⤊ 0⤋