"So much for gold been a hedge against crisis. More like gold just tracking the movement of stocks and commodities in general."
Mate, its true gold is a double edged sword. It's a hedge against crisis but also insurance in time of need. Gold was liquidated like everything else but that force dominated for only a microsecond before buying overwhelmed the selling as investors worried about solvency of the banking system, then sovereign debt default
Gold was just about the only asset that ended 2008 higher than where it began... along with US treasuries and USD.
Gold has little to do with commodities. Compare the price of oil in 2008 to where it is now... then do the same for gold. Chalk and cheese.
