The demand for safe haven triggered by the financial crisis led to the sharp rise of gold 9. However, after the financial market turmoil eased, safe-haven funds withdrew one after another, and gold returned to the era when the dollar and crude oil dominated the market. Under the influence of the strong rise of the US dollar and the continuous record high of crude oil, gold fell sharply from June 10 to September 1 1, and the previous low point formed in September 1 1 was easily broken. Comex 65438+February gold hit a new low of 68 1 USD per ounce, while Shanghai gold futures fell below 65438. After the gold price hit a new low, it oversold and rebounded. In the short term, the gold shock and rebound market is expected to continue, but we believe that the downward trend of gold in the medium term has not changed.