Currency and currency value changes.

Before the collapse of the Danbray Woods system, gold existed as the basis for issuing money. At present, due to the floating exchange rate system, the relationship between gold and currency is upside down, and the price of gold depends largely on the value of major currencies. What needs to be emphasized here is that the price of gold now depends not only on the exchange rate of the US dollar, but also on the global excess liquidity.

The influence of supply and demand.

Although the relationship between supply and demand is the basis of determining commodity prices, it is different in gold products, because gold has no influence on industrial and agricultural production, so the relationship between supply and demand is very important but not the main reason.

Gold has a high correlation with the price level, especially the transaction price of bulk commodities.

Historically, crude oil known as black gold has a high correlation with the price of gold. The general rule is that the price of crude oil will rise as much as the price of gold.

When the world political and economic turmoil, political instability, economic recession, the price of gold will rise. The so-called hidden gold in troubled times is like this.