Loose monetary policy In 2020, many central banks released monetary easing signals and successively introduced policies such as interest rate cuts, which was also one of the reasons for the skyrocketing gold price. For example, on March 3, the Federal Reserve cut interest rates by 50 basis points, and on March 15, the Federal Reserve decided to cut interest rates again, lowering the target range of the federal funds interest rate by 100 basis points to 0-0.25%.

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The impact of the epidemic In 2020, the world was affected by the epidemic, the economic development was slow, and the stock market plummeted, which led to a large number of investors in the market to allocate gold to preserve the value, thus pushing the price of gold up.

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In the international market, the tension between countries and international relations is also an important factor affecting the rise and fall of gold prices.