Gold is not a national exclusive trading product, but a global trading product. Therefore, when the gold market in one country is closed, the gold market in another country in the world is opening. Because the trading hours around the world are connected in a line, gold can be traded at any time within 24 hours.
The global gold market is mainly distributed in Europe, Asia and North America. Europe is represented by the gold markets in London and Zurich; Asia is mainly represented by Hong Kong; North America is mainly represented by new york, Chicago and Winnipeg.
Because the international gold price is denominated in US dollars, the relationship between the trend of gold price and the trend of US dollar exchange rate has become very close. Historical data show that the two often interact in reverse. The dollar rose and gold fell; The dollar fell, while gold rose.
The international crude oil price is also closely related to the gold market. As we all know, fighting inflation is a major function of gold, and the international crude oil price is closely related to the inflation level.