When trading gold, the following are some of the major currencies and international transactions associated with gold that are worth watching:

1. The US Dollar (USD): The USD is the world's predominant reserve currency and has a significant impact on the gold market. Because the price of gold usually shows a negative correlation with the dollar, when the dollar is strong, the price of gold tends to fall, and vice versa.

2. Euro (EUR): The euro, the world's second largest reserve currency, also has some influence on the gold market. Usually, the euro and the price of gold show a negative correlation. When the euro appreciates, the amount of currency needed to buy European gold decreases relative to other currencies, thus reducing the demand and price of gold. Conversely, when the euro depreciates, the amount of money needed to buy European gold increases, causing the price of gold to rise.

3. Japanese Yen (JPY): As one of the safe-haven assets, there is a link between the Japanese Yen and gold. When the global economic situation is uncertain, investors may seek to buy gold and the Japanese yen as a hedge. Typically, there is a positive correlation between the Japanese yen and the price of gold.

4. Renminbi (CNY): China is one of the largest gold consuming markets in the world and the CNY also has an impact on the price of gold. Changes in Chinese economic data and financial policies may affect the demand and price of gold. The relationship between the RMB and the price of gold is complex and may be influenced by several factors. However, in general, there is some positive correlation between the RMB and the price of gold.

5. British Pound (GBP): The British Pound also plays an important role in gold trading. The correlation between the British pound and the price of gold is influenced by the UK economy and monetary policy. Therefore, understanding the economic situation and monetary policy of the UK is essential to predict the price movement of gold. In general, the British pound has a negative correlation with the price of gold.

6. Gold futures trading: Gold futures trading is an important international trading platform through which gold futures contracts can be bought and sold. The gold futures price reflects the market's expectations of the future trend of gold.

7. Gold spot market: The gold spot market is a spot market for physical gold, where traders can buy or sell physical gold directly. The price in this market usually corresponds to the price of gold futures.

8. Gold ETFs: Gold ETFs (exchange traded funds) are investment vehicles that allow investors to gain access to the price performance of gold by purchasing gold ETF shares without having to hold physical gold.

9. Central bank gold reserves: Gold reserves held by central banks can also have an impact on the gold market. Central banks' purchases or sales may cause market volatility and reflect the overall market demand for gold.

Paying attention to the above factors can help you better understand and analyze the movements of the gold market and make more informed trading decisions.

However, it should be noted that the above relationships are based on general market trends and economic principles, but financial markets are complex and uncertain, and actual conditions may be affected by a variety of factors such as exchange rate fluctuations, market expectations, changes in the global economy, geopolitical risks and investor behavior.

Therefore, for investing in gold or any other financial asset, it is advisable to consider all factors, conduct adequate research and risk assessment before investing.

What are the factors that affect the price of gold? In what ways can a novice trader understand and study gold price movements?

PS: You can view more gold market information, data charts in FxGecko app. You can also use FxGecko app to check the information of brokers around the world, and you can directly submit complaints for help when you encounter problems.

【Reminder】Investment is risky, decision-making needs to be careful. This article only represents the author's own views, for reference only, does not constitute any investment advice.