Gold prices have been on a roller coaster for the past 10 years. After touching a high of $1900/oz (gold prices are internationally measured in Dollars per Troy Ounce) in September 2011, gold prices fell sharply to touch a low of $1050/oz in early 2016. However, the first Fed rate hike in 9 years effected in December 2015 created a virtual panic among equities and bonds. During this period, the price of gold was up sharply to $1350/oz, making gold one of the best performing asset classes in the first half of 2016. However, Trump’s victory in late 2016 and the Indian government’s demonetization drive led to a fall in the price of gold. Post the 2017 period, the price of gold has broadly been fluctuating between $1100/oz and $1300/oz typically gaining in value whenever there is uncertainty in the markets and drifting lower whenever there is a positive movement in the equity markets. You will normally find that gold prices move negatively with the GDP growth rate because good and solid GDP growth makes equities a lot more attractive.