Gold is one of the precious metals in various nations. It is one of the most demanded commodities in several nations but gold prices are still largely driven by global factors. Gold jewelry demand is very high in nations such as China, India, Dubai, and many other nations also. Gold pieces impact global business. Gold prices reflect changes in the US dollar compared to other nations' currencies. The value of the currency is highly dependent on the gold prices in the dollar. Another reason is central banks of various are required to maintain gold in their reserves also for the operation of the economy and controlling the financial situation also. At the moment, gold prices are continually increasing because of inflation. the word gold council is the institute that analyzes gold consumption all around the world. The WGC forecasts and publishes its reports. it will also play the role of a guide for the global gold market. Let us look at those factors which affect the gold price in the world economy.