![]() The global consumption of gold is mainly made up of jewellery, which accounts for about 50 per cent of its total usage, and investments which account for 40 per cent. Given the large quantity of the metal stored above ground compared to its annual production, the gold price is mainly affected by changes in sentiment, which, in turn, influences market supply and demand accordingly. However, most of the gold ever mined still exists in an accessible form, such as jewellery or bullion, and can be brought back onto the market. China, Australia, Russia, the US, Canada, Indonesia, Peru and South Africa are the world’s largest producers of the metal. ![]() Gold deposits are rare and difficult to find, making its extraction from mines a time-consuming and expensive activity. Like most commodities, the gold spot price is driven by the laws of supply and demand. Join to always stay up-to-date with the latest gold price. Compared to other precious metals used for investment, gold has the most effective safe haven properties across a number of countries.Īccording to the historical gold price USD chart, the commodity hit an all-time high of $1,895 per ounce on September 5, 2011. Over the decades, the metal has attracted international investors keen to balance their portfolio and hedge against any financial uncertainty, inflation, deflation or currency devaluation. Gold has a lower correlation to many asset classes, making it a widely used tool for diversification. Appreciated far beyond its industrial usage, gold is one of the most widely-traded metal commodities. It is attractive in colour and brightness, highly malleable, durable and usually found in nature in a relatively pure form. Gold is a lustrous precious metal with many unique properties. Gold Browse our live chart to get all the information you need on gold spot price today.
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