Gold price variation

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The second was in 2008, when the financial crisis caused a credit crunch and a worldwide recession.
In early 2007, strong global growth drove up fears of inflation, giving gold a boost as a hedge against rising inflation. As the global financial system started looking vulnerable, gold slipped along with inflation fears.
When the global credit crisis began building in early 2008, gold rocketed as investors fled risky assets for the "safe haven" of gold.

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What happened to the "flight to safety"? While speculation of central bank manipulation is an ever-present possibility in gold markets, investors desperate to raise cash to meet margin account and other debt requirements may have sold gold precisely because it had retained its value in the global meltdown of financial and real estate assets.
That gold tends to hold its value ironically makes it an attractive asset to be sold in times of need. Consider India, where gold and silver are traditionally favored as hedges against inflation. With food inflation running at 16% now in India, families hard-hit by sharply rising food costs may not be able to afford to hold a gold hedge permanently.
The same phenomenon may also be present in financial crises. When stocks plummet and margin calls must be met, then asset managers might be tempted to sell the assets which have held up the best--in some cases, that would be gold--to quickly raise cash to either make interest payments or reduce debt.

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The third period began in 2011, when gold peaked at $1,896 an ounce. Since then, the price has fallen to $1,440. Strikingly, this decline is occurring at a time when the Fed is pumping money into the banking system, interest rates are extremely low, and the U.S. economy has not had a negative quarter for nearly four years.
With the U.S. dollar losing value so rapidly compared to the world standard for money, the Federal Reserve’s policy of printing $1 trillion annually in order to support the impaired