Judging from the global gold supply and demand data, it is expected that the supply of gold will exceed the demand this year, as shown in Figure 6. In the first quarter, the gap between supply and demand of gold was very small, while in the second and third quarters, the supply of gold exceeded the demand for gold.

In addition, from the perspective of gold demand structure, in 2065,438+0, gold jewelry demand, industrial and dental demand and investment demand accounted for 43%, 65,438+00% and 37% respectively. 20 1 1 The demand for gold investment has approached the demand for gold jewelry. The continuous rise in the price of gold may lead to a decrease in the investment demand and consumption demand of gold. Therefore, from the perspective of gold supply and demand data, it does not support the sharp rise in gold prices.