During World War II, the Bretton Woods system established the link between the dollar and gold, so the price of gold was negatively correlated with the dollar. Therefore, the international gold price is priced in dollars. A fall in the price of gold means an appreciation of the US dollar. If the US dollar appreciates, the RMB will depreciate. After the devaluation of the RMB, it means that the purchasing power is declining, which makes it more difficult for many enterprises that rely on imports or foreign trade enterprises. In addition, the fall in the price of gold may also affect the stock market: we all know that gold is mostly bought for hedging, but in recent years, the price of gold has risen to a high point. If the dollar appreciates, the gold fund bought will be sold at a high level to invest in the dollar, so the fall in the price of gold will lead to a decline in gold stocks. Therefore, if the price of gold falls, listed companies whose main business is gold will lose their investment value in a short time. Without capital investment, the stock price may also fall.