World Gold Council

The World Gold Council is the market development organisation for the gold industry. With our unique insight into the global gold market, we see unrealised potential for gold across society and intervene to create new possibilities. Working with world-class organisations across the supply chain, we stimulate demand, develop innovative uses of gold and take new products to market. As the global authority on gold, we offer comprehensive analysis of the industry, giving decision makers unparalleled information and insight into the drivers of gold demand.

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    • The World Gold Council: Gold Prices
      अगस्त 2022
      Source: World Gold Council
      Uploaded by: Knoema
      Accessed On: 12 अगस्त, 2022
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      Data cited at: World Gold Council: https://www.gold.org/goldhub/data/gold-prices Sources: FastMarkets, ICE Benchmark Administration, Thomson Reuters, World Gold Council; The gold price used in the charts and statistics on this site is the London PM fix. This price is quoted in US dollars. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit using the foreign exchange rate closing price on the same day. For example, the London PM fix on 30th September 2010 was USD 1,307.00 and the closing price for one USD was GBP 0.636. The gold price in pounds sterling (GBP) would therefore be calculated as £831.25. Like all prices, the gold price reflects not only the inherent value of gold, but also the relative strength of the currency in which it is quoted. For example, the dollar price of gold may increase more in percentage terms than the sterling price of gold, to the extent that the change in price is a reflection of dollar weakness (in this case, against sterling) rather than an intrinsic change in gold market fundamentals. For this reason, our Investment Statistics contain charts showing an index of the gold price in US dollars and local currency units as well as the relevant US dollar / local currency unit exchange rate for countries other than the United States. In addition, our “G5” price index is an average (weighted by GDP) of the gold price in US dollars, Euros, Yen, Sterling and the Canadian dollar; this is calculated to compensate for changes in the gold price that are simply a reflection of one currency’s movement. Public holidays in different countries do not always coincide and therefore the time series that are downloaded from our data providers may contain missing values for trading days in other countries. The approach taken in this regard is to replace the missing value with the most recent value.