Gold Price Today In Arab Countries!

Gold prices are affected by many different factors, including inverse correlation with the US dollar, Which means that if the dollar rise there is a possibility to see gold prices fall and vice versa, Gold price is also affected by the annual production, central banks, important economic data, for example US Federal Reserve board meeting or the decision of the European Central Bank interest rates.

The most influential gold events are the Bretton Woods Agreement, which occurred in 1944, an agreement was held after World War II at Bretton Woods in the United States of America. The aim is to achieve stability in the world by installing ounce gold exchange rate of the equivalent of US $ 35. In the year 1971, Bretton Woods agreement collapsed when President Nixon decided to suspend the agreement and it suspended linking the dollar with gold. Which led to the loss of the US dollar to its attractiveness as an international currency from his trade deficit and the deficit in the government budget and the result was floating the dollar against other currencies, Which led to a move prices significantly ,Gold has seen many fluctuations in prices over the years. For example in 1955 was the price per ounce of gold 35$ and rise in 2011 to reach its highest level ever to 1921$ per ounce.