When an economy crashes gold follows. The main driving factor that drove gold was the 2008 stimulus but we didn't have a global economic shutdown as we do currently. Prior to the corona shutdown the world economy had already over heated and close to a correction.
There are three factors that will effect gold 1. Has this current crash been a catalyst for a long term correction. 2.Will the US stimulus be enough re boot the world economy. 3 Has gold become more valued as a commodity and gained more fundamental value.
I tend to think the world economy is a a stalemate. The capital losses from assets were turned into gains through low interest rates but 10 years latter we are now in the same position with more debt.
