Lately, since every exchange is listing cryptocurrencies indexed to gold, I'll give a quick warning to those who misunderstand; what you're ultimately buying is a stablecoin, not something traded at a fixed price pulled from the central bank. Just like with every token, if many people buy at the same time, it rises; if many sell at the same time, it falls. Comparing its chart to real gold prices is like comparing apples to oranges. The advantage is that since the price ultimately balances at the real price, if it deviates too far in one direction from the gold price, arbitrage trading can generate profit. In dollar-pegged stablecoins, there aren't many opportunities except during strange fluctuations in the TRY parity, but from what I've seen, this volatility on the gold side is rapidly making some people good profits.