The great gold myth: Why the precious metal isn't the war hedge we're told it is

From morningstar.com

From everything investors are told, it makes no sense that gold (GC00) would fall so much in the midst of the Iran war, which is now 100 days old. Since Feb. 27, the day before the Iran war started, gold prices have tumbled about 18%. That's difficult to square with the widespread belief that gold is a hedge against geopolitical risk. Gold investors shouldn't be surprised. None of the factors that that are widely assumed to be correlated with gold rests on a strong statistical foundation. Gold instead marches to its own drummer. Perhaps gold's decline is an exception to the historical rule. To find out, I calculated ... (full story)