In addition to Froddy’s excellent chart.
Generally if the USD weakens, Gold will go up and vice versa.....it’s priced in usd$.
Remember you need to keep in mind exchange rates if you’re a GBP, EUR, or AUD investor.
Ultimately, it doesn’t matter if it falls in USD.....if the above currencies weaken against the USD$ you gain.
The other thing to remember is that spot prices bare no resemblance to physical prices (was hoping Contigo could have advised). There is very little physical available.
Personally, I regard Gold as insurance against Central Banker insanity. My advice would be not to trade, but buy dips (insurance against unlimited moneyprinting) and put aside, 1, 2 or more years, investment grade. .9999 fineness.
You won’t be disappointed in a year or two.