Analyses and evaluates the reasons for changes in the price of the gold in 2017-2019. You should explain what has happened to prices of the gold over the time period stated. You should consider the role of supply and demand and provide a diagramatic explanation, using supply and demand curves for the changes in the prices of gold, you should refer to the elasticity of supply and demand of gold, the market structure of the good and specifically if there are any cartels/price fixing activities in the industry effecting the price changes discussed.

Sample Solution

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