Every time the FOMC made the decision to keep interest rates unchanged, the price of gold increased drastically. In the chart above, you can see that the price of gold remained above the 200-day SMA for most of 2016 until the election of Donald Trump which caused the price of gold to break below it.
A further drop in value came when the FED increased interest rates from 0.50% to 0.75%, strengthening the dollar and weakening gold. Several economic crises in the world starting with the economic slowdown in China at the beginning of 2016 and the Brexit vote on the 23rd of July kept gold prices up due to the increased demand.