Spot gold refers to the actual existence of gold, which refers to gold traded in physical form, unlike financial derivatives such as futures gold. Spot gold is often used as a store of value and investment, and is also considered a safe-haven asset.

The price of spot gold is affected by a number of factors, most notably market supply and demand. Gold is a rare resource, and the cost of mining and producing it is also high, so its supply is relatively small. Demand for gold is often influenced by economic and political factors. For example, when the global economy is in a recession, investors often shift money into safe-haven assets, raising demand and prices for gold.

In addition, factors such as geopolitical risks, inflation expectations, monetary policy and interest rate levels can also affect gold prices. For example, when the US Federal Reserve lowers interest rates, it usually leads to a depreciation of the dollar, which raises the price of gold.

The price of gold is usually quoted in the US dollar, and the price of gold per ounce (about 28 grams) is constantly changing. In addition to physical trading, investors can also participate in the gold market through gold ETFs, gold coins, gold bars, etc. The gold market often interacts with other markets, such as the foreign exchange market, the stock market, and the crude oil market.

In summary, spot gold is a long-established and popular investment instrument, and its price is affected by a variety of factors, including market supply and demand, economic and political factors, monetary policy and interest rate levels. Investors can participate in the gold market through physical trading, ETFs, etc., while paying attention to market dynamics and risk management.