What drives the Gold Price?

If you’ve ever wondered what actually drives gold prices—you're not alone.

The truth? 

There’s no one lever pulling it up or down… but there are several forces that quietly shape every movement.

Let me tell you about the four that I keep an eye on.

 I call them MIDI 

I’ve got a terrible memory and find this is a good way of remembering them!

Let me walk you through them

M = Market Uncertainty

Geopolitics. Tariffs. Wars. Recessions.
When the world gets shaky, gold gets shiny.
People want a safe-haven.

I = Inflation

Your cash buys less every year.

But gold?

It’s often used as a way of trying to combat inflation
When inflation outpaces the interest you get on your cash — you’ve got to do something to hold on to your purchasing power. Otherwise you’ll find yourself buying less with more.

D = Debt

Rising debt isn’t just a stat—it’s a signal.

History shows a clear pattern:
As US debt climbs, over the longer-term gold tends to follow (gold prices go up and down – debt only seems to go up!). Take a look at the Gold Price Projection tab for a nice graph on this.

And guess what? That debt isn’t slowing down. 

I = Interest Rates

Gold doesn’t pay interest, so when rates drop, the opportunity cost of holding gold diminishes
Suddenly—it looks a lot more attractive.

📌 Remember MIDI.

Because when those 4 align… the gold price often moves with force.