From a European perspective we see gold moving to the highest level over the last year.
The main driver of this increase are the inflationary actions made by the central banks and more specifically the European Central Bank.
The ECB printed a lot of money, bought all kinds of governmentbonds (specially from the weaker Euro countries) and doubled its balance sheet so inflation is starting.
As we all know that inflation is the trigger of higher gold prices. We see this happening right now. Since the end of 2018, gold has moved around 14% higher.
Gold is to my perception the best hedge against inflation and preservation of wealth for centuries and the evidence is showed in the schedule below, giving the development of the price of gold over the last 15 years (source: Doijer & Kalff)
2018: +3,00%
2017: -1,00%
2016: +12,4%
2015: -0,30%
2014: +12,1%
2013: -31,2%
2012: +4,90%
2011: +14,2%
2010: +38,8%
2009: +20,7%
2008: +10,5%
2007: +18,4%
2006: +10,6%
2005: +36,8%
2004: -2,70%
2003: +0,50%
For this reason I remain to my strategy to accumulate the yellow metal and of course silver too.
Enjoy!