This　paper　studies　the　co-integration　relationship　and　volatility　spillover　effect　between　China＇s　gold　futures　and　spot　prices　through　the　VECM-BEKK-GARCH　model.　Then,　MSGARCH　and　DCCE-GARCH　are　applied　to　study　the　relationship　among　China＇s　gold　futures　market,　spot　market　price　volatility　and　the　stabilization　effect　in　uncertain　economic　environments.　This　paper　enriches　the　current　research,　providing　gold　market　participants　with　hints　to　address　economic　uncertainty.　The　empirical　results　show　that　China＇s　gold　futures　market　has　a　weak　stabilization　effect　on　spot　price　volatility.　In　scenarios　with　uncertain　economic　information　and　uncertain　macroeconomic　changes,　the　correlation　between　gold　futures　and　spot　price　volatility　is　reduced　in　China,　and　the　role　of　gold　futures　in　stabilizing　the　spot　price　weakens.　Furthermore,　with　economic　uncertainty,　the　fluctuation　range　of　the　gold　futures　price　is　greater　than　that　of　the　spot　price,　with　a　tendency　of　more　frequent　fluctuations.　This　also　means　that　the　effectiveness　of　the　futures　market　in　regulating　the　spot　price　will　be　reduced,　and　gold　market　regulators　need　to　stabilize　the　market　through　alternative　methods　to　futures.