Macro + Liquidity Combined Trading Model

Why does gold rise while crude oil and the US dollar index fall?
Gold looks at interest rates, the direction depends on the dollar, sentiment follows US stocks, and demand is driven by crude oil!

Earlier, it was mostly dominated by interest rates and sudden risk events; when the dollar raises interest rates, gold prices fall; when the dollar cuts rates, gold prices rise. In recent years, it has increasingly reflected the global confidence in the dollar and the long-term trend of diversification in the reserve system.

It should be noted that the data comes from the international gold price (COMEX). The domestic gold price trend denominated in RMB is generally consistent with the international market but can be affected by the RMB to USD exchange rate.