(1) dollar exchange rate impact. The exchange rate of US dollar is one of the important factors that affect the fluctuation of gold price. Since the international gold market price is set in US dollars, the appreciation of the US dollar will push the price of gold down, and vice versa. However, in some special periods, especially when the trend of gold is very strong or weak, the price of gold will also get rid of the influence of the dollar and go out of its own trend. There is an 80% inverse correlation between gold price and dollar trend in the past decade. . Generally, when the dollar in the gold market rises, the price of gold will fall; When the dollar fell, the price of gold rose. 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. This is because the depreciation of the dollar is often related to inflation, and the high value of gold will often stimulate the preservation of gold and the increase of speculative demand in the case of the depreciation of the dollar and the intensification of inflation. In August of 197 1 and February of 1973, the US government announced the depreciation of the US dollar twice. Influenced by the sharp drop in the exchange rate of the US dollar and inflation, the price of gold rose to the highest level in history at the beginning of 1980, exceeding $800 per ounce. Looking back on the history of the past 20 years, if the dollar strengthens against other western currencies, the price of gold in the international market will fall. If the dollar depreciates slightly, the price of gold will rise gradually. (2) The monetary policies of various countries are closely related to the international gold price. When a country adopts a loose monetary policy, due to the reduction of interest rates, the country's money supply increases, which increases the possibility of inflation and will lead to an increase in the price of gold. For example, the low interest rate policy in the United States in the 1960 s led to the outflow of domestic funds and a large number of dollars flowed into Europe and Japan. As the net dollar position held by countries increased, they began to worry about the value of the dollar, so they began to sell dollars in the international market and snap up gold, which eventually led to the collapse of the Bretton Woods system. However, after 1979, the influence of interest rate factors on gold price is weakening day by day. For example, the Federal Reserve cut interest rates 1 1 times this year, but it did not have a great impact on the gold market. Only in the "9. 1 1" incident did the gold market benefit. (3) The influence of inflation on the price of gold. In this regard, long-term and short-term analysis is needed, and it depends on the degree of inflation in the short term. In the long run, if the annual inflation rate changes within the normal range, it will have little impact on the fluctuation of gold prices; Only in a short period of time, the price rises sharply, causing people to panic, and the purchasing power of monetary units declines, will the price of gold rise sharply. Although the world has entered the era of low inflation since 1990s, the use of gold as a symbol of currency stability is shrinking. Moreover, as a long-term investment tool, gold has a lower yield than bonds, stocks and other securities. But in the long run, gold is still an important means to deal with inflation. (4) The influence of international trade, finance and foreign debt deficit on gold price. Debt is a worldwide problem, not just a unique phenomenon in developing countries. In the debt chain, not only the debtor countries can't repay their debts, which leads to economic stagnation, but also the economic stagnation further aggravates the vicious circle of debt. Even creditor countries are in danger of financial collapse because of the breakdown of relations with debtor countries. At this time, in order to maintain their own economy from harm, countries will reserve a large amount of gold, which has caused the price of gold to rise in the market. (5) International political turmoil, war, etc. Major international political and war events will affect the price of gold. The government pays for the war or in order to maintain domestic economic stability, a large number of investors turn to gold to invest, which will expand the demand for gold and stimulate the price of gold to rise. For example, World War II, the Vietnam War, 1976 coup in Thailand, and 1986 Iran-contra incident all caused the price of gold to rise to varying degrees. For example, the terrorist attacks on the World Trade Center in September this year caused the price of gold to soar to nearly $300 this year. (6) The influence of the stock market on the price of gold. Generally speaking, the stock market falls and the price of gold rises. This mainly reflects investors' expectations of economic development prospects. If everyone is generally optimistic about the economic prospects, a lot of money will flow to the stock market, and the investment enthusiasm in the stock market will be high, and the price of gold will fall. In addition to the above-mentioned factors affecting the price of gold, the intervention activities of international financial organizations and the policies and regulations of central financial institutions in China and the region will also have a significant impact on the changes in the world price of gold. (7) Relationship between Oil Supply and Demand Since the spot and futures prices of the world's major oils are all priced in US dollars, the fluctuation of oil prices reflects the relationship between oil supply and demand in the world on the one hand, and the changes of the US dollar exchange rate and the world inflation rate on the other. Oil price and gold price indirectly influence each other. After comparison, it is found that there is a positive correlation between international gold price and oil price rise and fall for more time.