First, the price of gold is originally denominated in dollars. If the exchange rate of the US dollar falls, it is equivalent to the depreciation of the US dollar, and then the price of gold will rise. If the dollar rises, the price of gold will fall. This year, because of the very serious epidemic, the dollar depreciated and fell a lot, so the increase of gold is naturally much higher than before.
Second, depending on the oil price, many people may not know it. In fact, the price of oil is closely related to the price of gold. If the price of oil goes up, so will the price of gold. This year's rise in gold prices is also closely related to this.
Third, for gold, the market demand for gold has also increased, which may be affected by this year's epidemic. After the epidemic is controlled to a certain extent, many people who are about to get married will choose to give up buying diamonds that are easy to depreciate and buy gold that is easy to preserve. There is also a backlog of many newcomers who should have got married this year. There are many local customs of buying gold. I didn't buy it during the Chinese New Year, but now the epidemic situation has improved slightly. Naturally, everyone flocked to the gold shop to buy gold, and more people bought gold. So the demand for gold has also increased, and the price increase has naturally increased. This is probably not a very good phenomenon.
I think this year's gold increase is so high because of the above points. Of course, I think the most important thing is that the epidemic is serious this year, because the epidemic is really serious this year and prices are beginning to swell. This gold will definitely have a great impact, but at this time there will still be many people who choose to buy gold.