20th century, 70 years ago, the basic price of gold by the national government or central bank decision, the international price of gold is relatively stable. The early 70s, the U.S. dollar price of gold is no longer directly linked to the gradual market price of gold, gold price changes affect the growing number of, specifically, may be divided into the following aspects:
1, the supply factors:
(1) the stock of gold on the planet: the world that there are about 137,400 tons of gold, while on the ground stock of gold is still about 2% per year growth rate.
(2) of demand and supply: the annual gold supply and demand of approximately 4,200 tons, output of gold each year accounted for 62% of annual supply.
(3) the cost of a new gold mining: gold mining slightly lower than average total cost of about 260 U.S. dollars / ounce. Since the development of mining technology, gold development costs over the past 20 years continued to decline.
(4) gold-producing country's political, military and economic situation changes: in these countries, any political and military instability will no doubt directly affect the quantity of gold produced in the country, thereby affecting the world gold supply.
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