The rebound of gold price, which has been depressed since August 1 1, 2065438, has attracted the attention of many investors. Spot gold rose by 1.6% to 1308. 15 USD/oz in one day, and many people began to worry about whether the price of gold would skyrocket.

On August 26th, 20 19, gold broke through 1550 USD/oz, and the highest price reached 1554.56 USD/oz. Since 20 19, gold has increased by more than 20%, making it the hardest safe-haven asset.

On April 4, 2020, the price of gold broke through the mark of $65,438+$0.785 per ounce.

Extended data

Influencing factors of gold price:

inflation

As the only non-credit currency in the world, gold is different from paper money, deposits and other currencies, and has extremely high value. Unlike other currencies, which are only representatives of value, its own value can be ignored. In extreme cases, money will be equivalent to paper, but gold will never lose its value as a precious metal. Therefore, it can be said that gold can be regarded as a representative of eternal value.

Supply factor

The fluctuation of gold price is based on the relationship between supply and demand. If the output of gold increases significantly, the price of gold will be affected and fall back. In addition, the application of new gold mining technology, the discovery of new mines and the sale of gold by the central bank will all put pressure on the price of gold. If you enter a big gold consuming country such as India, there will be miners at the peak of gold consumption or during a long strike, and the overall supply is less than demand, and the price of gold will benefit from the increase.

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