I think gold prices are impacted by its industrial use as well. So when that component drops, prices goes down. Another component of gold investment is to compe

I think gold prices are impacted by its industrial use as well. So when that component drops, prices goes down. Another component of gold investment is to compensate for inflation which is also down except in real estate. Yet another component of gold investment is to hedge against short term loss in stock markets which was also down because of tremendous gains in S&P. The real estate is a different beast: There is no industrial component and no short term hedges. Also unlike gold, real estate can generate passive returns in form of rents.