How Is Gold So Valuable - Pricing Explained

Why do gold prices increase and why is it so expensive? In the past 2 years, #Gold has increased in value by over 35%, and in the last 3 months alone, it has increased by 17%.
Governments and central banks are also participating in this gold-buying frenzy - #India has purchased over 13 tonnes of gold in the first 2 months of 2024 alone via RBI, increasing its overall reserves to over 800 tonnes.
Based on data from the IMF and the World Gold Council, Turkey, and China have been leading as top 2 buyers of gold, and central banks have collectively added 39 tonnes of gold to their reserves in January 2024 alone.
What is driving this increase in gold prices? Why is gold universally accepted as a currency and mode of payment even after the prevalence of the US dollar?
In this video, I explain how the gold price is determined, why is gold so valuable and expensive, and whether you should buy gold right now or not!
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