There is no direct correlation between the US stock market and the gold price trend. The reason why there is a negative correlation between US stocks and gold is that the stock market has fallen, indicating that the economic downturn has led to the outflow of funds, and gold, as a safe-haven asset, will be sought after by funds, leading to the rise of gold. If gold and U.S. stocks are regarded as commodities, there is a competitive relationship between gold and U.S. stocks under the condition that market funds remain unchanged.

The stock market reflects the economy. The economy goes up, the stock market strengthens, the economy goes down, and the stock market weakens. Therefore, the American stock market directly reflects the American economy, and the quality of the economy affects its own currency, that is, the US dollar.

There are many factors that affect gold, such as dollar, interest rate, inflation, risk aversion and so on. Therefore, the factor that can directly affect the trend of gold is the US dollar, not the US stock market. On the one hand, the impact of US stocks on gold is the flow of funds, on the other hand, it is indirectly affected by the US dollar.

Under normal circumstances, the dollar is negatively correlated with gold, but when the market is affected by risk aversion, gold and the dollar occasionally goes in the same direction.

The same is true of the relationship between US stocks and the US dollar. Under normal circumstances, they will keep the same direction. When the US stock market strengthens, the economy will improve, which will promote the appreciation of the US dollar and the flow of funds to the United States. In this case, the US dollar and US stocks show the same direction.

However, occasionally it will develop in the opposite direction. For example, this year, US stocks and US dollars are obviously developing in the opposite direction; This year, affected by the epidemic, the global economy declined, risky assets were sold off, and the dollar continued to fall. However, due to the continuous introduction of currency in the United States, market funds poured into the stock market, pushing up US stocks.

From this point of view, among US dollars, US stocks and gold, US dollars have a direct correlation with US stocks and gold, but US stocks and gold have no direct correlation, and US stocks and gold can only achieve an indirect relationship through US dollars. Because the dollar and gold have multiple attributes, the dollar and gold are usually negatively correlated, which indirectly makes the US stocks and gold negatively correlated, but occasionally in the same direction.