How does Gravity Affect Time?

Gravitational time dilation is a form of time dilation, an actual difference of elapsed time between two events as measured by observers situated at varying distances from a gravitating mass. The lower the gravitational potential (the closer the clock is to the source of gravitation), the slower time passes, speeding up as the gravitational potential increases (the clock getting away from the source of gravitation). Albert Einstein originally predicted this effect in his theory of relativity and it has since been confirmed by tests of general relativity.[1]