Gold is a strategic mineral resource with both commodity and monetary attributes. Besides being used in the manufacture of jewelry, gold has important applications in the fields of electronics, aviation and medical treatment etc., due to its good conductivity and corrosion resistance.

China, a major gold producer and consumer, boasted a mineral gold output of 377 tons (ranking the first in the world for 18 consecutive years) and gold consumption of 985 tons (ranking the first in the world for 12 consecutive years) in 2024. According to the data of the World Gold Council, the global total demand for gold in 2024 was 4,974 tons, a record high; however, the output was only 3,661 tons, showing obvious contradiction between supply and demand. Gold is a typical safe-haven commodity. Based on the analysis of the World Gold Council, gold prices will be driven to record highs because of multiple factors, such as the shadow of U. S. tariffs, geopolitical uncertainty, stock market volatility and the weakening of the US dollar.