The most basic part of the gold market, in which the suppliers are mainly gold mines and gold smelting enterprises, and the demanders are mainly gold products manufacturers and jewelers. Gold reserve is also the formulation and implementation institution of monetary policy and an important force affecting the gold market. When the central bank needs to increase its gold reserves, it is an important demander of the gold market, and when the central bank wants to reduce its gold reserves, it is also an important supplier of the gold market. Central banks in major western countries generally mainly sell gold, while R is engaged in "lending gold business", and more often appears as a supplier. Commercial banks: Commercial banks have multiple identities in the gold market. The gold business of commercial banks is very complicated. Some of their businesses are to carry out the gold business of the central bank, and some are to carry out the gold business on behalf of customers. From this point of view, commercial banks are important intermediaries in the gold market, and their agency business covers both gold wholesale and gold retail. On the other hand, commercial banks also have some gold self-operated businesses and the status of gold self-dealers.