Opinion: The rising gold price reflects the weakening of the US dollar's credit

ChainCatcher reports that on the 18th, local time, due to the escalating tensions in the Middle East and uncertainties brought about by US President Trump's tariff policies on the global economy, investors continue to buy gold as a hedge, pushing international gold prices to a new historical closing high. Professor Wan Zhe from Beijing Normal University stated that the rising price of gold reflects weakening confidence in the US dollar.

Reports indicate that over the past two or three years, the US dollar index has shown strength but began showing signs of slight decline after mid-January this year. The U.S. Treasury Secretary Steven Mnuchin has repeatedly reaffirmed recently that Trump "fully supports a strong dollar policy" and hopes for continued strength in USD.