it directly affects the changes in the world economy. Because the U.S. economy has a greater influence in the world, economic trends directly affect the quality of U.S. assets, causing the dollar to rise and fall, causing the price of gold to rise and fall. So in the determination of gold prices, oil prices are also in a very important position; gold and crude oil prices are also economically linked, industry has a strong dependence on crude oil, rising oil prices will increase the cost of industrial production, thereby curbing economic growth, curbing economic growth for most industries, may lead to a decline in the stock market, which will boost the demand for safe-haven assets such as gold. Slow economic growth leads to the beginning of a recession, when gold's safe-haven function plays a role, leading to more money entering the gold market, driving gold prices; finally, mining companies are also affected by rising oil prices, oil is widely used for mining exploration, and soaring oil prices may squeeze miners' profits, which indirectly increases the cost of gold mining and plays a direct role in raising the price of gold. The energy position of oil in today's society is unshakable, and its price changes will affect the price trend of gold.
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