Some say gold leads the inflation or typical 10Y yield rise. There is 'some' evidence of the +ve correlation but generally on your cherry picked (2 years), I would say the -ve correlation appears much stronger. I've had this observation by explaining it through the cost of capital or cash yield. Since gold does not produce any, it requires low inflation to sustain its bull trajectory as opposed to the inflation hedge that has been drilled by the general narrative.
OTOH, the period of the previous gold crash in 2013 to a 50% haircut bottom (circa $1000), miners were shining not because of value picks but weak AUD doing all the hard work. Just my non factual observation. This time around the gold sector isn't responsive to the very weak AUD and some are suggesting the high oil price which is a very key component to the cost of production.
Chart trends don't lie, look at the local XGD, nt exactly inspiring except bottom pickers territory. Now compare the weekly chart pattern from 2013 to current, VERY similar pattern forming.
I look at things objectively regardless of gold mining exposure so I suggest if you respond leave the emotional content behind then maybe we can have a better discussion.
