Supply and demand factors are the fundamental reasons that affect the fluctuation of gold prices. Any change in supply or demand will break the existing balance between supply and demand, which will lead to price fluctuations.

2, the impact of the dollar exchange rate.

Since all the major gold markets in the world are settled in US dollars, the change of US dollar exchange rate has become one of the important factors affecting the fluctuation of gold prices. Generally speaking, in the gold market, there is a rule that the dollar rises and the price of gold falls, while the dollar falls and the price of gold rises. A strong dollar generally means that the domestic economic situation in the United States is good, domestic stocks and bonds in the United States will be sought after by investors, and the function of gold as a means of value storage will be weakened; The decline in the exchange rate of the US dollar is often related to inflation and the stock market downturn, and the value-preserving function of gold is once again reflected.

3. National monetary policy factors.

4. The influence of international trade, finance and foreign debt deficit on gold price.

5. International political turmoil, wars and terrorist incidents.

6. Oil price

Since the prices of the world's major oil spot and futures markets are all priced in US dollars, the fluctuation of oil prices reflects the relationship between world oil supply and demand on the one hand, and the change of US dollar exchange rate and world inflation rate on the other, so there is a strong positive correlation between oil prices and gold prices.