Relationship between crude oil price and gold price:

Gold is a hedge against inflation, and rising oil price means that inflation will follow, and the uncertainty of economic development will increase. At this time, the role of gold in hedging will be favored by people. There is a positive correlation between gold and crude oil. The rise of crude oil price indicates that the price of gold will also rise, and the fall of crude oil price indicates that the price of gold will also fall. In the medium and long term, the fluctuation trend of gold and crude oil is basically the same, but the magnitude is different. Generally speaking, the price of gold is positively related to the price of crude oil. The relationship between gold price and crude oil price.

There are two main reasons:

1. The increase in crude oil price will promote inflation. According to relevant data, for every 1% increase in crude oil price, the inflation rate will increase by about 1%. Inflation will reduce people's ability to buy money, which is equivalent to losing money. Buying gold can resist inflation and preserve value. As people's demand for gold expands, the price of gold will eventually rise.

2. The fluctuation of US dollar will lead to the fluctuation of gold price and crude oil price in the same direction. In the international market, both gold and crude oil prices are quoted in US dollars, and international trade is traded in US dollars. Therefore, when the US dollar rises, both gold and crude oil prices fall. When the dollar fell, both the price of gold and the price of the dollar rose.

Of course, it should be noted that there is an unbreakable positive correlation between crude oil and gold prices, but this relationship is not absolute. In some special periods, they will also deviate from this relationship. For example, in the 197s, oil prices remained at a high level, but gold prices fell instead of rising, mainly because the US Treasury bought part of gold reserves for nothing to prevent investors from speculative demand for gold, and the founders of the International Monetary Fund also took the same action.