The dollar, interest-rate expectations, central banks, global risk and demand.
Prices move for several reasons at once. These are the most common ones.
The dollar. Gold is priced in dollars, so a stronger dollar often weighs on it.
Interest rates and inflation expectations. Lower rates make holding gold cheaper, which can raise demand.
Central banks. Large purchases can support the price.
Uncertainty. Geopolitical tension and market fear increase demand for safe assets.
Silver. Industrial demand (electronics, solar panels) also matters, so silver can swing more than gold.
Local price. The RON or TRY price combines the dollar price with the exchange rate. Even if gold stays flat, a currency move changes the local price.
This is general explanation, not a forecast.
Questions about selling scrap gold or buying 14K gold jewellery wholesale? Contact Ervam Gold or use our scrap gold calculator.