💡 Can gold traders control gold prices despite the dollar's volatility?!
📊 The price of gold is mainly affected by the global dollar price, but do local traders have a role in controlling it?
🔍 The truth:
1️⃣ Global factors:
- Gold prices are determined globally according to the movement of the dollar and the price of an ounce on global stock exchanges.
2️⃣ The role of traders:
- Traders do not control the basic price, but they affect the manufacturing cost, which raises the final selling price.
3️⃣ Local dollar volatility:
- It affects the price of gold in the local market, but the greatest impact remains for global stock exchanges.
✨ Golden advice:
• To ensure a fair price, follow global gold prices and check the manufacturing cost before buying.
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