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Gold Futures - Jun 24 (GCM4)

Real-time derived
Currency in USD
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2,335.80
-10.60(-0.45%)
Closed

Gold Futures Discussion Forum

Incidentally, decline in the price of gold should lower the prices of all commodities and thus act as a brake on inflation.
The dollar, like any other currency, cannot be taken away from gold simply because someone has decided so. Gold has historically taken the place of the commodity-money, and the fact that there is no fixed gold standard cannot prevent it from being money. Substitutes for commodity-money in circulation (such as notes with a $ sign) cannot express anything other than a certain amount of commodity-money, ie a certain amount of gold. This stems from the very nature of commodity exchange. The dollar and gold are not two separate things. The dollar is the monetary name of gold. Therefore, gold does not and cannot have a price in any currency, because that would mean measuring the value of gold by the value of gold. What seems to us to be the price of gold is, in fact, the daily setting of a floating, variable gold standard. If the "price" of gold today is $ 2,000 and tomorrow's $ 1,900, it just means we've just changed the name of an ounce of gold. ....
This does not apply to any other commodity, because other commodities are not money, that is, they are not the universally accepted commodity by which all commodities measure their value relatively.
I'm surprised Kishore hasn't jumped in and ask about your TP and SL at this point
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