Gold Price in the UK Live 2023
The gold price in the UK is affected by a variety of factors, ranging from global economic and political uncertainty to changes in the supply and demand of gold and other metal commodities. The most influential factor is undoubtedly global uncertainty.
1. Demand and Supply: Demand and supply is one of the main factors determining the price of gold. When the demand increases, the price of gold rises, and when the supply increases, the price drops.
2. Monetary Policy/Bank of England Speak: Changes in monetary policy and the Bank of England’s interest rate can also affect the price of gold. If the Fed lowers interest rates, it can lead to an increase in gold prices.
3. Geopolitical factors: Political instability or situations that feel like a crisis can also make gold prices go up. This is because gold is often seen as a safe asset that does better than other investments when times are uncertain.
4. Inflation: Inflation is another factor that affects the price of gold. When inflation rises, gold prices tend to rise as well, since it is seen as a hedge against inflation.
