Gold Price per Kilo Today – Live

Like all commodities, the price of gold is determined by the forces of supply and demand. However, unlike other commodities, changes in gold prices are determined to a much greater extent by the storage and disposal of gold products on the market than by their consumption. Given the huge quantities of gold already mined and stored – compared to annual production – the price for gold is influenced first by changes in the quantities available (demand), and second by changes in annual production (supply).According to data from the World Gold Council, annual gold mining in recent years has reached 2,500 tonnes. Of this, around 2 000 tonnes are sold on the jewellery and industrial/dental products market, and the remaining 500 tonnes are invested through small and large gold buying and selling institutions.