Can you explain why gold would drop when the market crashes?
I’ve heard that it is because some people have to sell their gold to make up for losses in the market.
Pretty simple. The primary value of gold is because people think it has value. Also, if the dollar gets stronger, and it has, it naturally takes fewer dollar to buy that gold.
Long term, the value of gold is the cost to mine and refine it plus a acceptable level of profit.