Gold is a commodity that is of great interest to investors and traders alike. Gold prices are affected by various factors, such as inflation, interest rates, and global economic growth.
Inflation: Inflation causes the price of gold to rise because as the price of goods and services increase, people will need more money to purchase them. This means that they will need more money in order to purchase gold.
Interest Rates: Interest rates determine how much people are willing to pay for gold in comparison with other assets like stocks or bonds. If the interest rate on an asset is higher than the interest rate on gold, then people will be more likely to invest in that asset instead of investing in gold.
Economic Growth: A country's economic growth affects the price of gold because if a country's economy is doing well, there will be increased demand for commodities like oil and gas which could cause a rise in the price of these commodities which would lead to an increase in the price
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