(1) dollar trend
The dollar is the largest currency in international settlement and international reserves. When the international political situation is tense and uncertain, people will buy gold because they expect the price of gold to rise. The dollar is strong and gold is weak; Gold is strong and the dollar is weak.
(2) War and political turmoil.
As a commodity with relatively stable price, economic development will be greatly restricted during the period of war and political turmoil. Inflation may lead to currency devaluation. At this time, the importance of gold is fully demonstrated. At this moment, people will aim at gold. Buying gold will inevitably lead to an increase in the price of gold.
(3) the world financial crisis
When the financial system of the United States and other western powers is unstable, world funds will be invested in gold, and the demand for gold will increase, and the price of gold will rise. At this time, gold played the role of a financial refuge. (4) Inflation
The higher the inflation in major countries, the greater the demand for gold as a safe haven, and the higher the world gold price.
(5) Oil price
Rising oil prices mean that inflation will follow, and so will gold prices.
(6) Market interest rate
When the interest rate is low, there will be some income from investing in gold; However, if the interest rate rises, it will be more attractive to charge interest, and the investment value of interest-free gold will decline. Especially when the interest rate in the United States rises, the dollar will be absorbed in large quantities and the price of gold will be frustrated.
(7) Economic situation
Prosperous economy and carefree life will naturally enhance people's desire to invest, people's ability to buy gold for preservation or decoration will be greatly increased, and the price of gold will be supported to a certain extent. On the contrary, people live in poverty. During the economic depression, people can't even meet the basic guarantee of eating and dressing, and the price of gold will inevitably fall. The economic situation is also a factor that constitutes the fluctuation of gold prices.