Gold

Gold is a precious-metal commodity traded through physical markets and financial instruments whose pricing depends on form, location, currency, and settlement terms.

Gold demand comes from investment, reserves, jewelry, and industry, while supply reflects mining, recycling, inventories, and official-sector activity. Prices can respond to real yields, currency movements, risk demand, liquidity, and expectations without following one permanent relationship. Coins, bars, funds, futures, and leveraged derivatives create different custody, spread, financing, tracking, and counterparty exposures even when they reference the same metal for investors.