Gold is expensive everywhere on Earth.
puerto rico
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.
The record low gold futures price occurred in August of 1976, at $104.20 per troy ounce. The record high price was $1556.40 per troy ounce in April of 2011.
Gold is used in jewellery, technology and as an investment. Many people want it (demand) which ups the price. Gold needs to be mined from the ground and comes in different purities. This means that supply is slow and low, which also drives up the price.
From many years the people in the world market know the soft yellow gold metal don't has stable price and this market it's a big scams in the real world market for decades, but the people lake to gamble in this market!!!
the world market price in US $ which equal to SR3.75.
The price of gold changes daily.On the 12th May 2016 gold was worth £878.35 per troy ounce.During the month of April 2016 gold price ranged between a low of £845.20 and a high of £896.05.
The price of gold is constantly changing. The price for a kilogram of gold at 2:49 pm Greenwich time, on May 16,2014, is 41628.79 US Dollars
As with anything the main driver of gold's price is supply and demand. If the supply is low or the demand is high then the price will go up. Now we have to throw in a third factor, speculation. Gold is sold and traded on the option market and there has been a great deal of gold options traded recently, and that has driven the price up also. If there were to be a large amount of gold either found or released on the world market then the supply would out strip the demand, options would no longer be sought after and prices would plummet. In 1972 an ounce of gold cost $58.42, that same ounce of gold today, 2013, is $1221.
Twenty-five years ago, in October 1998, the price of gold was approximately $290 per ounce. This period was characterized by relatively low gold prices, influenced by factors such as a strong U.S. dollar and low inflation rates. Since then, gold prices have experienced significant fluctuations, reflecting changes in economic conditions and investor sentiment.
The yellow gold metal price increase, when the Pure Solid White gold Formula and the U.S. Dollar goes out of the world market and we know that is impossible ! Sincerely: Professional Jewelry.
The price for one gram of 9 ct gold jewelry depends on the demand and the current market price. If demand is low then it would be less expensive. A website quoted $9.97 per gram.