Maybe not. Here show some main factors affecting the price of gold. 1、US dollar index
When the dollar and gold and silver are 80%, there is a negative correlation: the dollar rises, the gold and silver fall; the dollar falls, and the gold and silver rise. But when the risk aversion factor dominates, the dollar and gold and silver will be in the same direction. For example, the European debt crisis, the financial crisis, and the war period.
Such as:Non-agricultural employment data; interest rate resolution; GDP data; consumer price index (inflation data) .Important monthly investment opportunities:
First Week : Bank of Europe and other central bank interest rate resolutions; US non-agricultural data Forth Week : US GDP data, UK GDP
Every six weeks: Federal Reserve interest rate decision (end of month and mid-term); minutes of the Federal Reserve meeting (mid-term and end of month)
- Monetary policy
Monetary policy directly leads to changes in the value of money, which affects the trend of gold and silver. In particular, the Fed’s monetary policy, commonly known as the Fed’s interest rate resolution: Loose monetary policy, pushing gold and silver to rise. Such as interest rate cuts Tightening monetary policy, suppressing gold and silver down. Such as raising interest rates
- peeches by important people
Federal Reserve Chairman Powell, Fed officials; US President Trump;
Russian President Putin European Central Bank President Draghi;
Bank of England Governor Carney Economists such as Buffett, Soros and other important international invoices, speeches, speeches on economic views, inflation, interest rates and other aspects of the speech may cause international gold and silver price fluctuations.
- Institutional remarks
The predictive remarks of Goldman Sachs, HSBC, Barclays, Bloomberg, Reuters, and three major rating agencies (Fitch, S&P, Moody) have affected market sentiment to a certain extent, which has caused price volatility.
- Institutional positions
Gold ETF positions; silver ETF positions; speculative positions in CFTC positions report:
Institutional jiacang, good for precious metals
Institutional lightening, profitable precious metals
- Political factors
Major international political and war events will affect the price of gold. The government pays for war or to maintain the stability of the domestic economy, and a large number of investors turn to gold-preserving investments, which will expand demand for gold and stimulate gold prices to rise.
Such as the Second World War, the US-Vietnam War, the 1976 Thai coup, the 1986 “Iranian Gate” incident, the Iraq war and the recent Iranian nuclear issue, all of which caused the price of gold to rise to varying degrees.
8, crude oil prices
Crude oil price is one of the factors affecting the price of gold. In the gold market, when oil rises, the price of gold rises, and when oil falls, the price of gold falls.
Hope this is helpful for you.