First of all, we should pay attention to the trend of the US dollar exchange rate. Because international gold is priced in dollars, the trend of dollars is negatively related to gold. However, in some special periods, especially when the gold trend is strong or weak, it will also go out of the independent market.
In addition, a strong dollar generally means that the US economy is in good condition, American stocks and bonds will be sought after by investors, and the function of gold as a means of value storage will be weakened; The decline of the dollar is often related to inflation and the stock market downturn. At this time, the demand for gold preservation and speculation tends to rise.
Secondly, we should pay attention to the international crude oil price. On the one hand, the fluctuation of crude oil price reflects the relationship between supply and demand of crude oil in the world, on the other hand, it also reflects the change of US dollar exchange rate. Generally, the international gold price is positively related to the crude oil futures price.
Third, we should pay attention to major international political and economic events.