My point of view  is that people who normally invest in gold when they are worried about the economy are now seeing the stock market way down. They are selling off their gold to invest in stocks which are very cheap right now.

The reason gold fluctuates is because it is not being used as money. If it were, its value would remain constant.

Over the long haul, gold retains its value, that's why people want to buy it when they get worried. Gold is real money. And gold is worthless when no one wnats to use it.