As a commodity, the price of gold futures is closely related to seven factors. The relationship between supply and demand is an important factor affecting the long-term trend of gold prices. The annual output of mineral gold is stable at about 2,500 tons, accounting for only 1.67% of the social stock, so the change of supply and demand will not cause the short-term sharp fluctuation of gold price. There is a perfect negative correlation between dollar trend and gold price. Since 200 1, the US dollar has entered a long bear path, and it is depreciating against almost all major currencies. Among them, the depreciation of the US dollar against the euro is close to 40%. We predict that in 2008, the US dollar will continue to operate at a low level under the pressure of deficit. Therefore, the weakness of the dollar in 2008 will still form a strong support for the price of gold. Since the 1970s, prices have never stopped rising and entered a rapid rising channel. It is predicted that the US economy will still face the problem of inflation in 2008. So inflation will push up the price of gold, a natural safe-haven product. From the historical trend of oil price and gold price, the rising rhythm of oil price and gold price is strikingly similar: oil rises, gold rises; Oil fell, gold fell. As an important strategic material, petroleum is greatly influenced by geopolitics. At the same time, the consumption demand of China, Indian and other countries will strongly support the oil price, and the oil price will remain at a high level in 2008. In 2007, in response to the subprime mortgage problem in the US financial market, the Federal Reserve cut interest rates three times, which had an important impact on the trend of gold prices. In 2008, the US economy still needs to lower interest rates. The arrival of the interest rate cut cycle will push up the price of gold again. Gold is an important investment product, and the promotion of funds is an essential factor for its price increase. Fund positions can be used as indicators to judge institutions' views on the gold market outlook. Judging from the official fund positions, the fund positions at the end of 2007 were significantly larger than those at the beginning of the year. It can be judged that the fund is obviously optimistic about the gold market in 2008. In addition, as an important hedging tool, gold has strong political sensitivity. Geopolitical events in 2007 became the main catalyst for the short-term gold price surge and plunge. In 2008, the world was still not peaceful, the Iranian nuclear issue was full of twists and turns, and the Iranian side stood firm; The United States, the Russian Federation, China, Taiwan Province Province and other important political focus areas held general elections, and political frictions continued; The power and interest disputes between Russia and the United States and other military powers in international affairs may escalate into political events. In addition to these factors, investors' psychological expectation is an important factor affecting the violent fluctuation of gold prices. However, psychological expectation often doesn't work alone, and it often enlarges the fluctuation range of price with the change of other factors, thus creating a large number of price difference opportunities for gold futures and spot investment.