GK
BASIC GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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London
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Teheran
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Washington
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Rome
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Detailed explanation-1: -Gold prices are fixed at London Bullion Market Association on a daily basis (business day) at 10:30 am and 3pm (London time). In which currency is gold rate fixed? The gold fix is conducted in the US dollar, the Pound sterling, and the euro.
Detailed explanation-2: -Worldwide markets, and the portability of gold, insure that the price of gold will not vary significantly in free markets from country to country.
Detailed explanation-3: -Supply, demand, interest rates, and investor behavior are key drivers of gold prices. Gold is often, but mistakenly, used to hedge inflation under the belief that gold will appreciate and offset inflationary pressures. Gold is subject to investor sentiment about risk.
Detailed explanation-4: -The current price of gold as of March 09, 2023 is $1, 815.04 per ounce.