-Federal Reserve's monetary policy tightening expectations: US economic data is strong and inflationary pressure is intensifying. Fed officials made hawkish remarks, suggesting that they will start to reduce their asset purchase plans at the end of this year or early next year and raise interest rates in advance. This has led to an increase in market expectations for the Fed to tighten monetary policy, a stronger US dollar index, and an increase in US bond yields, putting pressure on gold prices.

-Global economic recovery and improvement of risk appetite: With the gradual control of the COVID-19 epidemic, countries have promoted vaccination and economic restart, the pace of global economic recovery has accelerated, the market's expectations for future growth and profits have increased, and risk appetite has also improved. This makes investors more inclined to choose high-return assets such as stocks and commodities, which reduces the demand for safe-haven assets such as gold.

-The global economic situation is unstable: the escalation of the international trade war, the intensification of geopolitical tensions, and the increase of global inflationary pressures have all severely hit market confidence. These uncertainties make the demand of investors and the price of gold fluctuate greatly.

Due to the complexity and uncertainty of the gold market, it is difficult to predict the future trend of the gold price. I suggest you consult a professional financial adviser and make a careful analysis and decision on your investment.