Gold is a commodity, but it hasn't behaving like a commodity like copper & coal. But, it has been performing more like a safe heaven currency. Look at August last year, when Shanghai Composite fell hard & DOW plunged at historical -1000 points, but managed to climbed back to -500, gold went straight up. The transfer of wealth is happening now. It has been the best perfoming commodity or safe heaven currency I'd rather say it.
