1. The rise of crude oil price will promote inflation. According to relevant data, the inflation rate will increase by about 1% for every increase in crude oil price. Inflation will lead to the decline of people's purchasing power of money, which is equivalent to the loss of money. Buying gold can fight inflation and preserve value. As people's demand for gold expands, the price of gold will eventually rise.

2. Of course, it should be noted that there is an unbreakable positive correlation between crude oil and gold prices, but this relationship is not absolute. In some special periods, they will also deviate from this relationship. For example, in the 1970s, the oil price remained high, but the price of gold fell instead of rising, mainly because the US Treasury bought some gold reserves for nothing to prevent investors from speculating on gold, and the founders of the International Monetary Fund also took the same action, which led to gold.

Second, the relationship between crude oil price and gold price:

Gold is a tool to hedge against inflation. Rising oil prices mean that inflation will follow, and the uncertainty of economic development will increase. At this time, the safe-haven function of gold will be favored by people. There is a positive correlation between gold and crude oil. The rise of crude oil price indicates that the price of gold will also rise, and the fall of crude oil price indicates that the price of gold will also fall. In the medium and long term, the fluctuation trend of gold and crude oil is basically the same, but the amplitude is different. Generally speaking, the price of gold is positively related to the price of crude oil. The relationship between gold price and crude oil price.