Because the deep-seated root of the safe-haven value of gold comes from the remaining monetary attribute of gold, that is, the value-preserving function of gold, compared with the credit banknotes issued by various countries, gold has long been a metal currency or banknote standard in history. Economic fluctuations and even political and military emergencies have shaken people's confidence in a country's currency, leading people to buy gold to avoid the risk of currency depreciation.
Therefore, the safe-haven demand for gold follows the logic of "financial crisis or political and military turmoil-a country's real economy declines or money supply is out of control-the risk of a country's currency depreciation-the safe-haven behavior of throwing paper money to buy gold".
Extended data:
The reasons for the economic crisis may be:
1, economic policy error;
2. Shortage of raw materials, especially the crude oil crisis;
3. Natural disasters;
4. The consequences of globalization;
5. Financial policy mistakes.
Economic crisis has existed as early as in the production of simple commodities, which is related to currency as a means of circulation and payment. Only in the mode of production can the crisis become a reality. With the development of simple commodity economy-private labor and social labor, economic crisis is inevitable.