f there is a major discovery of new mines in a country, then their gold rates are likely to go up due to increased supply later down the road. On the other hand, if demand increases at the same time, then the price of gold increases because more people want to purchase it.
Gold price in Pakistan Today These patterns vary depending upon geographic location, time of year, and other economic factors beyond just supply and demand. These factors all contribute towards a very complicated market that has yet to be properly explained by economists despite centuries of trying.