how does gold prices fluctuates daily ?

             Gold price change daily 

The daily change in gold prices is mainly due to various economic political factors happening across the globe.

The GDP rates , stock market indices, currencies exchange rates, gold mining, gold consumption rate, wars, sanctions against other countries and many other such events at local and global level has on impact on the gold prices globally.

In india gold is traded at the Multi commodity Exchange (MCX) where it rate changes every second during market hours.The closing prices of the previous day is fixed as the purchase prices of gold in local market for the day.

Some factor that affect on gold:

Central bank Actions:-

As gold is considered stable in terms of survival, most of the countries reserve gold where is managed by the central bank of respective countries.                                                                                                               For example:- In india the gold reserve is managed bank of india so. If RBI makes any change in its gold reserve policy .it can impact on the gold rates. 

Government policies:-

Government policies also have a direct or indirect impact on gold prices.Policies of major developed and developing nations can also influences global gold prices.                                                                                 For example:- The recent slump in gold prices just before US Federal Bank metting.

Investment Trends:-

In most the countries gold is considered as the safest investment option ,But the new-age investor are seeking out new investment opportunities and have started experimenting .Gold is profitable only When investment is done for along term .This change in investment pattern also affects gold prices making it fluctuates daily.

Currency change:-

The change in global currency rates also affects the gold prices as the metals is generally traded on the international markets in global currencies.