What influences the gold prices of today?

Question

Are there different influences in different countries? If yes, what are the influences in South Africa?

Answer 1

i think the gold prices is not link to the countries

Answer 2

There is basic supply and demand.

Gold is traded on the commodity exchange which is world wide.  This allows a very stable price even when currencies may fluctuate wildly.  Those currencies seeing a weakness may see gold rise in their currency while those currencies seeing a strengthing currency may see gold drop.  People buy gold to protect their worth from these fluctuations using the term hedging (a betting term).  For instance people bought gold in the U.S. to protect themselves from inflation, but as the threat drops, they sell their gold which may even drop the price around the world (if enough gold was bought).