What is the rate for gold?
See the chart for today’s gold rate.
The gold price is determined at several places around the world. The most important ones are in London at the London Bullion Market Association (LMBA). The price for gold is fixed two times a day – in the morning and afternoon – and published in United States dollar, euro and British pounds. This is called the London Gold Fixing. The second gold fixing location is New York, where this happens at the Commodity Exchange (COMEX, NYMEX division).
What factors determine the rate for gold? As all commodities, gold is exposed to the market forces of supply and demand. Supply refers to gold production (mining), gold recycling, and selling by market actors such as central banks, (exchange traded) funds and investors. Demand stems also from central banks, funds and investors and of course jewelry and other industrial requirements.
Gold can be bought and sold as “paper gold” from banks or directly from brokers. Physical gold (coins and bars) are in stock at gold shops and internet auctions.
What is the rate for gold in 2012 and beyond? Let’s see …