To be fair gold price does have an approximate correlation with inflation.
The last major run up in gold price 2003 - 2012: inflation fluctuated around 2.3% to 3.2%
The major rundown from 2012 - 2015 saw inflation drop from 3.2% to 0.1%
The slow crawl up from 2015 has since inflation slowly creeping up from 0.1% to 2.9%
One could argue that in the bigger scheme of things the current weakness in gold price will look nothing measured over a year or two. Perhaps this is little more that a washout before the next run up similar to 2003 -2012
I've absolutely no idea, just conversation, nevertheless I do see some similarities with that previous period.
