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Predicting How Much Per Gram for Gold

As one of the most precious commodities on the market today, people often ask how much they might get per gram for gold if they decide to hand in old, unwanted jewellery. The answer is difficult to give in precise terms, mainly because the price of gold continually shifts on a constant basis. Before deciding to hand in your old items jewellery, or if you're thinking of trading in the gold market, either as a forex-trader or in a more professional basis, it is worth learning what influences the price of gold.

In reality, there are many factors in play affecting the price of gold. Much like the FTSE100 and other markets, factors both psychological (which are impossibly hard to forecast) and event-based (which are somewhat easier to determine and follow) all come into play. However, it is always the end result of both that ultimately gives us a figure of how much is paid per gram for gold. As with many commodities, the price of gold is reflective not just by its actual value.

Indeed, a currency’s relative strength is also taken into account. As an example, the sterling price of gold can increase more than its dollar price. In situations such as this, the price change might reflect the weakness of the sterling cost of gold (against the dollar), instead of the overall gold market situation. It is because of this that various statistics are usually employed when trying to give a figure on the price of gold, showing an index of various currencies (though more popularly the US dollar, as this is the most heavily-dealt currency on the planet).

It is for the above reasons that only expert analysts can safely predict how much per gram you’ll get for gold, so only refer to official sources when obtaining this information beforehand, particularly if you plan on trading in this precious commodity.

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