Some people say that the depreciation of RMB has little effect on the price of gold, which is incorrect. International gold is denominated in US dollars, and the rise of US dollars and the fall of international gold also affect domestic gold prices. These are based on the fact that the value of domestic monetary unit remains unchanged and domestic gold is basically priced in domestic currency. For example, our gold futures are RMB/gram. If RMB appreciates, gold futures will definitely fall. The reason is simple: the value of gold remains unchanged, that is, A RMB/gram =b USD/ounce. When RMB appreciates, that is, RMB: USD increases, the formula can only continue to hold if A is reduced. It is to curb the pressure of inflation, but also to reduce the growth rate of economic development, squeeze the real estate bubble and ensure the stability of the banking industry. Finally, you said that domestic gold 120 yuan is incorrect. The price of international basic gold (also known as pure gold) is different from the physical gold we see. If the transaction price of international basic gold is 120 yuan, it can be understood in this way, but there is still a certain cost difference of 70-80 yuan in our domestic terminal retail gold processing link, and the retail link is also investment-oriented and practical. Practical things such as jewelry will increase the processing cost, so it is wrong. I hope you can understand what I said above, but this is the most basic. I hope the above answers are helpful to you.