Gold prices today are volatile as they are impacted by more than supply and demand. Though gold mining production has decreased since 2002 and China has emerged as today’s largest gold producer, gold prices today are primarily driven by worldwide investors who purchase and sell the commodity according to speculative sentiments.
World events impact investor behavior and fluctuating gold prices today are largely due to concerns about world economies and monetary systems. Investors concerned about the financial instability of nations’ currencies purchase gold as a storehouse of value. Investor fears of inflation, the United State’s massive debt exerting pressure on the dollar, India and China’s Central Bank gold purchases all impact gold prices today. Even good news like a faster economic recovery in developing nations drive gold prices as a middle class consumers purchase more gold jewelry.
To view the London Afternoon gold price today, simply visit GoldFellow®’s “Gold Price” page. London’s closing price is updated each morning on the company’s website so consumers can easily see the gold price today as well as GoldFellow®’s scrap gold prices by karat. The page includes an easy to use gold price estimator – a calculator which consumers can use to help them estimate the value of their scrap gold.
Reference: http://en.wikipedia.org/wiki/Gold_as_an_investment – Gold as an Investment