What is main reason behind fluctuation of gold rate in india | Candider
What is main reason behind fluctuation of gold rate in india
27th Feb 2020 7:37 pm
The following result is obtained by our Internet Research Algorithm:
The value of gold is often calculated in USD in the global market, hence the price of gold is set according to USD ( United State Dollar).
Hence, the price of gold fluctuates on the basis of the exchange rate of currencies between USD and the rest of the world. This whole exchange works between USD, gold and currency of the rest of the world. By considering gold as a currency you will understand it better as a currency system.
Gold is a very secured asset therefore people prefer to invest in them. Due to this currency system of gold the higher the demand, the price will also increase.