(Code general international practice is XAUUSD, or GOLD, Chinese name is also called international and) is a date transaction, refers to the transaction after the completion or delivery within a few days.
Also commonly known as spot gold is the world’s largest stock.
Physical gold is heavily traded every day, some $20 trillion a day.
Therefore, no consortium or institution can artificially manipulate such a huge market, completely depend on the spontaneous regulation of the market.
Spot gold market without dealer, market norms, strong self-discipline, sound laws and regulations.
International yellow is floating every day, generally based on the London gold market as the standard, there are the opening price, the middle price and the closing price, other gold market prices in New York, Zurich, Hong Kong and other areas, our country uses the London daily closing price as our currency export pricing.
Before 1970s, it was basically decided by governments or central banks of various countries, and the international gold price was relatively stable.
In the early 1970s, the price of gold was no longer directly linked to the US dollar. The price of gold was gradually marketized, and the factors affecting the change of gold price were increasing.
It edged lower to below $1,240 in New York on Wednesday, closing 0.50 percent lower overall, as a number of U.S. better-than-expected announcements during the day, while overnight the World Bank raised its global growth forecast for the first time, raising expectations of further tapering by the Federal Reserve and boosting the dollar.
Data from the Labor Department on Wednesday showed U.S. producer prices rose 0.4% in December, the biggest increase since June 2013, while the Federal Reserve’s Beige Book showed economic activity continued to expand at a moderate pace between late November and the end of 2013, with some districts expecting growth to accelerate.
The Fed eagle wind bursts, the international gold price phantom lost.
Beijing time 16:45, today’s international gold price quoted 1237.07 USD/oz.
The above is about the “today’s international gold price quotation” related introduction