If you’re a frequent buyer of Runescape gold for old school runescape (07) or runescape 3 (RS3), you are one of the many people who are so confused why runescape gold has gone up so much in price since last week. Today is March 28th 2020. Last week the average osrs (old school runescape) gold price was around 0.72/M USD while RS3 was sitting around 0.14/M USD. All this changed when the coronavirus the entire world knows about got worse and worse. The entire world is feeling the devastation from the coronavirus and people are being encouraged to stay indoors for their safety and the safety of others.
Imagine all the inactive runescape players now stuck at home with nothing to do. People have been looking for so many things to use up their time while they're stuck at home. So many players are coming back into the game and so many players who already played are playing more because of all their free time. This huge increase in demand causes the prices of gold to go up. It's simple economics. As supply goes up past demand, price goes down and as demand goes up past supply, prices goes up.
Frequently asked questions:
Will the price go back down eventually? As long as demand goes up, prices will follow and that will never change. As soon as the coronavirus pandemic has slowed down and people are getting back to their everyday lives, supply and demand should find an equilibrium at a certain price.
Are gold sellers just taking advantage of their customers? Of course not! Most gold sellers operate by making a certain margin on their revenue. At any price of gold, they are still making the same profit. They just have to pay more for their gold which is forcing the prices of gold up since there is more demand than supply.
Should I buy gold now or wait till tomorrow? As long as people are stuck at home and more and more continue to follow that path, demand should continue to increase causing prices to rise. It will never surpass the price of in game bonds though since people would resort to that instead.
Note to everyone : Please be safe and practice social distancing. Try not to leave your house that much because this pandemic is growing in high percentages. Thanks for reading and Happy Scaping :)