At the beginning of 2025, the price of gold fluctuated and rebounded. On January 9, the price of gold hit its highest level since mid-December. On January 10, the price of gold rose again. According to institutional analysis, in the medium and long term, gold and the US dollar have shown a "divergence" feature, and the trend of the US dollar index does not have a decisive impact on the price of gold. Gao Ruidong, chief economist of Everbright Securities, analyzed that after Trump was successfully elected president of the United States, his "America First" policy pushed up the US dollar index, causing the price of gold to fall. But from a medium and long-term perspective, gold and the US dollar have shown a "divergence" feature, and the trend of the US dollar index does not have a decisive impact on the price of gold. In the current process of global economic multi-polarization and de-globalization, the dominance of the US dollar in the international monetary system has begun to weaken, and gold is gradually becoming independent of the US dollar system, becoming a pricing "anchor" in times of uncertainty. (Brokerage China)