Historical Value: Gold has been used as a store of value for centuries, and its price has often been influenced by historical events.
Inverse Relationship with the U.S. Dollar: Gold prices often have an inverse relationship with the U.S. dollar.
Supply and Demand: Like any other commodity, the price of gold is influenced by the principles of supply and demand.
Central Bank Reserves: Central banks of various countries hold gold reserves as part of their monetary policy.
Industrial Use: While a significant portion of gold demand comes from jewelry and investment, gold also has industrial applications in electronics, dentistry, and other fields.