The following result is obtained by our Internet Research Algorithm: The value of gold is often calculated in USD in the global market, hence the price of gold is set according to USD ( United State Dollar). Hence, the price of gold fluctuates on the basis of the exchange rate of currencies between USD and the rest of the world. This whole exchange works between USD, gold and currency of the rest of the world. By considering gold as a currency you will understand it better as a currency system. You can better understand it by watching this - https://www.youtube.com/watch?v=Ti4eqnL_L1s&t=459s