First, the trend of the US dollar Although the US dollar is not as stable as gold, its liquidity is much stronger than gold. So the dollar is considered as the first kind of currency, and gold is the second kind. When the international political situation is tense and uncertain, people will buy gold because they expect the price of gold to rise. But the currency held by most people is actually dollars. If the country needs to buy weapons or other materials from other countries during the war, it will also sell its gold for dollars. Therefore, the dollar will not necessarily rise during the period of political instability, but also depends on the trend of the dollar. Simply put, the dollar is strong and gold is weak; Gold is strong and the dollar is weak. Second, in times of war, geopolitical war and political turmoil, economic development will be greatly restricted. Due to inflation, any local currency may depreciate. At this time, the importance of gold is fully demonstrated. Because gold has recognized characteristics and is an internationally recognized trading medium, people will invest in gold at this moment. Buying gold will inevitably lead to an increase in the price of gold.

Third, 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. Only when the financial system is stable, investors' confidence in gold will be greatly reduced, and selling gold will lead to a decline in the price of gold. 4. If inflation rises sharply, holding cash is completely insecure, and interest can't keep up with the sharp rise in prices, people will buy gold, because the theoretical price of gold will rise with inflation at this time. The higher the inflation in major western countries, the greater the demand for gold as a safe haven, and the higher the world gold price will be. Among them, the inflation rate in the United States is the most likely to affect the change of gold. 5. Oil price gold itself is a hedge against inflation and is inseparable from inflation in the United States. Rising oil prices mean that inflation will follow, and so will gold prices. 6. Investing in gold at the local interest rate will not earn interest, and the profit of its investment depends entirely on the price increase. 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 collect interest, and the investment value of interest-free gold will decline. Since the opportunity cost of gold investment is high, it is more stable and reliable to put it in the bank to collect interest. 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. Interest rates are closely related to gold. If the domestic interest rate is high, it is necessary to consider whether it is worthwhile to lose interest income to buy gold. Seven. Economic situation: a prosperous economy and a 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 food and clothing. Where are they interested in investing in gold? The price of gold is bound to fall. The economic situation is also a factor that constitutes the fluctuation of gold prices. Eight, the supply and demand relationship of gold, the price of gold is based on the supply and demand relationship. If the output of gold increases significantly, the price of gold will be affected and fall back. However, if the output stops increasing due to the long-term strike of miners, the price of gold will appreciate in the case of short supply. In addition, the application of new gold mining technology and the discovery of new mines have increased the supply of gold, which will of course cause the price of gold to fall. A place may also have the habit of investing in gold, such as Japan's gold investment boom, which needs to be greatly increased, which also leads to price increases.