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What Are The Factors Affecting Gold Prices?

Gold is an attractive asset, as it is relatively stable and holds innate precious value. Traders consider this “safe-haven” a worthwhile investment as it can maintain or increase in value even if the market is turbulent.

These are the main influencers on the price of gold:

  • Supply and Demand: As demand for gold rises, the price will increase, whereas the price will decrease if there is a weakening in demand. This is determined by social and political needs. Geopolitics can also impact supply/demand.

  • Central Banks: Since the crash in 2008, there has been a strong relationship between gold and central banks. Generally, as interest rates see a low or negative period, gold will gain popularity.

  • Inflation: When there is a rise in widespread financial stress due to sharp inflation or deflation, gold sees positive results.

  • Political Crises: As the safe-haven commodity, gold is a popular choice for traders during times of global unrest. We saw at the beginning of the pandemic that gold remained high in value despite the market crash. As there is an increasing uncertainty of the future of COVID, as well as financial/economic markets, traders feel secure with gold.

Since most of the world’s gold is used to make jewelry (about 50%), prices can fluctuate based on how willing people are to spend the money on nonessential items. Times of economic turmoil can change the public mindset on unnecessary goods, such as fine rings and bracelets.

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Commodities FAQ

To trade commodities like Brent oil, WTI oil with CFDs, below are the recommended steps.
1. Choose a trusted broker. There are plenty of brokers on the market, like MiTrade, IG, Capital. Among them, we would recommend MiTrade for its 0 commissions, low spread and flexible leverage. MiTrade is also licensed by ASIC, a world-renowned licensure used by many legitimate exchanges.
2. Enter a contract for difference: this means you will exchange the difference in price between when the trade was opened and closed.
3. Choose your leverage amount (fixed or variable) based on your goals.
4. Withdraw your winnings!

Diversification: Don’t put all your eggs in one basket! Use this to reduce your risk, but limits short-term returns.
Inflation Hedging: Use your oil investments to hedge against inflation in the future.
Speculation on commodities prices: Feeling confident? Invest in future speculation to get big winnings today.

If you are someone who can skillfully track and manage world events, while understanding the ins and outs of popular commodities like gold, silver, oil and their derivatives, then you may be able to make an attractive profit from investing in commodities. Learn what moves the commodity and you can minimize your risk.

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