There are more and more factors affecting the price changes of gold and silver, which can be roughly divided into the following aspects: 1. Supply factor 1, gold stock on the earth 2, annual supply and demand 3, new gold mining cost 4, political, military and economic changes in gold-producing countries. Any political and military turmoil in these countries will undoubtedly directly affect the gold production of this country, and then affect the world gold supply. 5, the central bank's gold selling. 2, the demand coefficient is 1, the actual demand for gold (jewelry industry, industry, etc. ) change. 2. In order to preserve the value, the gold reserve has always been an important means used by the Bank of China to prevent inflation and regulate the market. For ordinary investors, investing in gold is mainly for the purpose of preserving value in the case of inflation. In the economic downturn, because gold is safer than monetary assets, the demand for gold has increased, and the price of gold and silver has gone up. 3, speculative demand 3, other factors L, the impact of the US dollar (USD) exchange rate, looking back over the past 20 years, the US dollar (USD) has been strong against other western currencies, and the price of gold and silver in the international market has declined. If the US dollar (USD) depreciates slightly, the price of gold and silver will gradually pick up. 2. The monetary policies of various countries are closely related to the spot gold market. When a country adopts a loose monetary policy, the money supply of the country increases due to the decrease of interest rate, which increases the possibility of inflation and will lead to the rise of gold and silver prices. 3, the impact of inflation on the price of gold and silver, to do long-term and short-term analysis, combined with the degree of inflation in a short period of time. In the long run, if the annual inflation rate changes within the normal range, it will have little effect on the fluctuation of gold and silver prices; Only in a short period of time, the price rises sharply, causing people to panic, and the unit purchasing power of money drops, the price of gold and silver will rise obviously. 4. The influence of international trade, finance and foreign debt deficit on the price of gold and silver. 5. International political turmoil, wars and terrorist incidents. 6. The influence of the stock market trend on the price of gold and silver. Generally speaking, the stock market fell, the price of gold and silver rose by 7%, and the oil market fell. As a hedging tool under inflation, gold itself is inseparable from inflation. The upward trend in the oil market means that inflation will follow, as will the prices of gold and silver. Silver is similar to gold, but the fluctuation of silver is more intense and the income is relatively low.