1, the relationship between supply and demand, demand is the eternal hard truth of commodity rise, gold can be used not only in jewelry but also in high-tech industries. With the development of science and technology, the demand for gold in industry is increasing gradually. If demand exceeds supply, it will stimulate the rise of paper gold.

2. The geopolitical situation is not good, such as the Iraq war and the Libya war. , will promote people's concerns about paper money, which will lead to the emergence of risk aversion, make the price of gold go up and push up the spot price of gold. Once this happens, the increase will be particularly large.

3. Commodities linked by financial markets are rising, including crude oil, gold, gold and many other commodities. When commodities rise in unison, gold and gold will also rise if they are at a low value. Just like a city's housing prices rise, housing prices in various regions will also rise. In addition, the assets of gold and the dollar are inversely related. If the US economy improves, the bullish dollar will suppress the drop in spot gold prices.

The global economy is picking up, the investment enthusiasm is high, and the good economic situation shows that the money supply in the market is sufficient. At this time, gold is easy to be bought by investors because it has enough funds to buy, and the buying sentiment in the investment market is also relatively high, and the bullish sentiment is strong, which stimulates the rise of paper gold.

Second, the factors leading to the decline in spot gold prices:

1. The global economic downturn and financial crisis are the main factors leading to the decline in spot gold prices. Investors can refer to the financial crisis in 2008, when gold plunged. The reason is that market funds quickly flow out of the gold and silver market to fill other financial risks. In addition, during the financial crisis, investors' purchasing sentiment was extremely depressed, which led to a decrease in purchasing demand and suppressed the decline of gold.

2. The geographical situation is stable. Under the background of very stable global geographical pattern, the lack of risk aversion will suppress the buying sentiment of safe-haven assets and suppress the spot gold price for a long time.

3. The linkage of financial markets to suppress the decline of gold, the rise of the dollar and the decline of commodities are all important factors to stimulate the decline of spot gold prices. Among them, the improvement of the US economy and the US interest rate hike will increase the attractiveness of US dollar assets and suppress the decline of gold.