Gold ETF trading is the product of gold securitization, and the price traded on the exchange has a positive correlation with the international gold price trend. From a macro point of view, the price changes depend on the supply and demand of gold, and rise and fall alternately with the overall ups and downs of the market, and the long-term price trends of the two tend to be consistent. As the share of ETF corresponds to a considerable amount of physical gold, which is managed by a special custodian, it may stimulate the demand for gold at a certain stage of price change, thus breaking the existing balance between supply and demand and aggravating the price rise or fall.