Several factors influence the price of gold, including:
Supply and Demand: The availability of gold and the demand for it in various industries such as jewelry and technology. Economic Indicators: Inflation rates, interest rates, and overall economic health. Geopolitical Events: Political instability, wars, and other global events can drive up gold prices as investors seek safe-haven assets. Currency Fluctuations: The value of the US dollar, in particular, has a significant impact on gold prices, as gold is often traded in USD.