Gold’s legendary status as a “safe haven” has been examined from 2020 to 2024, a whirlwind period packed with pandemics, geopolitical clashes, inflation spikes, and global market turmoil. This study dives deep into gold’s roller coaster ride during these turbulent years, analyzing how its price interacted with inflation, interest rates, and the U.S. dollar. Major global events such as the COVID-19 pandemic, the Russia-Ukraine war, and rising tensions between the U.S. and China steered gold’s often unpredictable path. While inflation is traditionally seen as a primary driver of gold prices, our findings challenge this assumption. Instead, we highlight that inflation played a less significant role than expected. Geopolitical instability, market shocks, and heightened uncertainty were far more critical in shaping gold's price trajectory. This research sheds new light on the evolving dynamics of gold as a financial asset, offering insights into how it behaves in the face of unprecedented global crises.
Gold, Inflation, Geopolitical, Market, Instability, Uncertainty, Volatility
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