The first is the outbreak of sudden war. Generally, in addition to people's expectations, the impact on the price of gold also broke out. After the price of gold rises rapidly, it tends to fall rapidly.

Second, before the expected war broke out, before the real war broke out, the price of gold had followed expectations, and the war premium had already appeared in the price increase.

There are two main types of gold trading in the gold market, namely spot trading and futures trading. Spot gold mainly refers to gold nuggets (bricks), gold ingots, gold bars and gold coins. Most of the gold transactions newly mined by private or gold mining enterprises are physical transactions. The gold purchased by customers can be stored and transferred by themselves, or entrusted to a gold merchant for safekeeping.

Spot transactions are generally delivered immediately after the transaction or completed within two days. Spot gold is traded at a special price, which is divided into two types in London gold market: pricing trading and quotation trading.

The characteristic of pricing transaction is to provide customers with a single transaction price, that is, there is no bid-ask spread.

According to the price of a single transaction, customers can buy and sell freely, and gold merchants only charge a small commission. Quoting transactions are divided into buying price and selling price. Pricing transactions are only valid for a specified period of time, ranging from one minute to one hour, depending on the supply and demand of market customers. The price of gold in other gold markets in the world is based on the pricing level of London market, and then look at the supply and demand situation in this market. Gold futures trading is not delivered immediately after trading, but both parties sign a contract, pay the deposit and then deliver on the scheduled date.

Gold trading is the investment project with the lightest tax burden in the world. In contrast, many other investment products have some taxes that investors can easily ignore. Especially the inheritance tax, when you want to transfer your property to the next generation, the best way is to turn your property into gold, and then your next generation will turn gold into other property, thus completely avoiding the high inheritance tax.

The main forms of physical gold in the gold spot market are gold bars and ingots, as well as gold coins, gold medals and jewelry. Gold bars include low-purity placer gold and high-purity strip gold, and generally weigh 400 ounces. Market participants mainly include gold producers, refiners, central banks, investors and other demanders. Among them, gold traders buy and sell in the market, brokers earn commissions and spreads from them, and banks finance them.