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Gold price refers to the current market value of gold, which is a precious metal sought after for its rarity, beauty, and use in jewelry and investment. The price of gold is determined by various factors, including supply and demand, economic and geopolitical events, currency fluctuations, and investor sentiment. Gold is often seen as a safe-haven asset during times of economic uncertainty and is also used as a hedge against inflation. The price of gold is quoted in US dollars per ounce and is traded on global commodity markets such as the New York Mercantile Exchange and the London Bullion Market. Investors and traders closely monitor gold prices as part of their investment and trading strategies.