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Yes, gold prices are high and are still going up due to global demand and supply variations
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∙ 12y ago
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How does Ghana's King keep the price of gold high?
I kept gold from poeple who wanted to steal it. so that's how the price was high
Can you give you a sentence with conversely?
While gold price is high, conversely, petroleum price is lower.
What were some of the effects of gold?
The price of the food in California was unbelievably high.
What is the highest gold price?
Gold struck the high price of $1,226 an oz. on Dec. 2, 2009. That $1,270.20 is the highest price in history - as of Sept 14, 2010. Ironically, today is the day that gold is at its highest (thus far).
Which is known as liquid gold?
Petroleum is called liquid gold because of its high price and value and its economic "need".
Who set the price for gold?
Everyone. Gold has no set price, just a market price based on supply and demand. It has to do with the cost of production (Finding it) and the demand. Price is always high, as it is a scarce resource. When we run out of its supply, the demand will increase and the price will increase majorly.
What backs gold up?
What backs gold is the fact that we like gold and that gold is used in many applications. Due to there is a limited amount of gold, and people really like gold, gold has a high price.
Why is gold so much money?
As with any other commodity, price is determined by supply and demand. Gold has a relatively low supply with high demand, which causes the price to rise.
When should I expect the price of gold to fall?
Gold is a safehaven investment. So it's price will stay high so long as people are uncertain about other investment types. Gold will decline when money starts leaving gold for stocks.
What is the value of 2 oz of gold?
the price of gold has been declining steadily, though it is still expensive. as of September 8th, 2008 @ 3:30pm EST, the price of gold is currently at: $800.30 (usd)/oz.
What is the role of prices in the free market?
Prices in a free market are a measure of scarcity and desirability. Something that is scarce and desirable - gold, for example - will have a high price. Something that is common but still desirable - bread or beef - will have a lower price. As the scarcity or desirability of an item increases, the price will increase.
What kind of progress has the price of gold made in the last decade?
Gold is at at all-time high price, breaking the $1600 per ounce barrier in 2013. In 2008, for example, the price of gold was around $800 per ounce, and in 2003 was $400 per ounce.
