Four traditional explanations for gold’s price rise – Natixis
“A fourth explanation is an excessive increase in the quantity of money, which leads to a loss of confidence in money to store savings. This can be the quantity of money in the United States (in dollars) or in the OECD as a whole. Rapid money supply growth may explain the rise in the gold price from 2009 to 2012 and in 2019-2020. … The rise in the gold price in the recent period (since March 2020) can be attributed to dollar depreciation, falling share prices and monetary expansion.”
USAGOLD note: Some interesting perspective on what be driving interest in gold investments in 2020 – old concerns have become new concerns.