XAUUSD
Gold is highly sought after, not just for investment purposes and to make jewelry but also for use in the manufacturing of certain electronic and medical devices. As of February 2023, the price of gold was more than $1,870 an ounce. While down around $100 from a high posted in April 2022, it is still up considerably from levels under $100 seen 50 years ago.
But what factors drive the price of this precious metal higher over time ?
KEY TAKEAWAYS
1 Investors have long been enamored by gold, and the price of the metal has increased substantially over the past 50 years.
2 Not only does gold retain additional value, but supply and demand have a huge impact on the price of gold—especially demand from large ETFs.
3 Government vaults and central banks comprise one important source of demand for gold.
4 Gold sometimes moves opposite to the U.S. dollar because the metal is dollar-denominated, making it a hedge against inflation.
5 Supplies of gold are primarily driven by mining production.
Conclusion : Gold Is a high Value Asset , Which Can be Hedge Against Growing Inflation.
Telegram: t.me/premiuminvestrone
💰Instagram: bit.ly/3j9Xyd4 💰
✅Facebook: bit.ly/3wDTQeL ✅
❗️YouTube Channel www.youtube.com/@Forex_billionaire./videos
$Forex broker IC Markets bit.ly/3RbWQbP
💰Instagram: bit.ly/3j9Xyd4 💰
✅Facebook: bit.ly/3wDTQeL ✅
❗️YouTube Channel www.youtube.com/@Forex_billionaire./videos
$Forex broker IC Markets bit.ly/3RbWQbP
