All of this is due to the “safe haven” status gold has traditionally had in the investment world. Related, the strength of major economies also has an inverse relationship to the price of gold - at least when an economy has a significant downturn. In other words, when the value the US dollar is strong, gold prices go down. Traditionally gold has an inverse relationship to the value of the dollar. Chief among these factors is the strength of the US dollar.
There are many factors that contribute to the current price of gold.
