1, 1972 ~ 1980, rising from $44/oz to $589/oz, with a peak of $850, an increase of 1240%. The non-monetization of gold brought about by the collapse of Bretton Woods system, the increase of gold reserves mainly by European and Japanese central banks and the expansion of gold trading groups have become important forces to promote the rise of gold prices.

2. In 2002-2012, it rose from $278 to $ 1664, with a peak of $ 1895 per ounce, with an increase of 450%. The explosion of investment demand represented by the emergence and development of gold ETF, the rising cost of superimposed gold minerals and the basically flat total supply have jointly become an important factor to promote the price of gold.

Extended data:

There are two important reference indicators of international gold price, and their trends are highly consistent. We analyzed the early spot gold in London.

Use dollars and the central bank to increase gold reserves. With the adjustment of international trade structure, some countries, including Russia, began the process of dollarization. BRICS countries-China, India and Turkey have also increased their holdings of gold and reduced their holdings of US Treasury bonds to varying degrees, and this trend continues.

The central bank's increase in gold holdings means that the supply and demand structure of demand has changed, and it may continue to push up the price of gold slightly in the future.