Cause
The precession of the equinoxes is caused by the gravitational forces of the Sun and the Moon, and to a lesser extent other bodies, on the Earth. It was first explained by Sir Isaac Newton.
Axial precession is similar to the precession of a spinning top. In both cases, the applied force is due to gravity. For a spinning top, this force tends to be almost parallel to the rotation axis. For the Earth, however, the applied forces of the Sun and the Moon are nearly perpendicular to the axis of rotation.
The Earth is not a perfect sphere but an oblate spheroid, with an equatorial diameter about 43 kilometers larger than its polar diameter. Because of the Earth's axial tilt, during most of the year the half of this bulge that is closest to the Sun is off-center, either to the north or to the south, and the far half is off-center on the opposite side. The gravitational pull on the closer half is stronger, since gravity decreases with distance, so this creates a small torque on the Earth as the Sun pulls harder on one side of the Earth than the other. The axis of this torque is roughly perpendicular to the axis of the Earth's rotation so the axis of rotation precesses. If the Earth were a perfect sphere, there would be no precession.
This average torque is perpendicular to the direction in which the rotation axis is tilted away from the ecliptic pole, so that it does not change the axial tilt itself. The magnitude of the torque from the Sun (or the Moon) varies with the gravitational object's alignment with the Earth's spin axis and approaches zero when it is orthogonal.
Although the above explanation involved the Sun, the same explanation holds true for any object moving around the Earth, along or close to the ecliptic, notably, the Moon. The combined action of the Sun and the Moon is called the lunisolar precession. In addition to the steady progressive motion (resulting in a full circle in about 25,700 years) the Sun and Moon also cause small periodic variations, due to their changing positions. These oscillations, in both precessional speed and axial tilt, are known as the nutation. The most important term has a period of 18.6 years and an amplitude of less than 20 seconds of arc.
In addition to lunisolar precession, the actions of the other planets of the Solar System cause the whole ecliptic to rotate slowly around an axis which has an ecliptic longitude of about 174° measured on the instantaneous ecliptic. This so-called planetary precession shift amounts to a rotation of the ecliptic plane of 0.47 seconds of arc per year (more than a hundred times smaller than lunisolar precession). The sum of the two precessions is known as the general precession.
Read more about this topic: Axial Precession