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Gold divergence from macro asset anchors nearing historical extremes

Gold has diverged periodically, as it has in the past 12-18 months, from its macro asset anchors: TIPs and the USD. What makes the most recent period interesting when compared to the 2010-2011 macro asset divergence, for example, is the significantly tighter monetary policy major central banks are currently pursuing. This is probably a sign of the current general anxiety in the global monetary system and the persistent presence of central banks and reserve managers in the market. 

Contrast the low absolute relevance of macro assets for gold's price formation mechanism with what's happening in BTC, where macro assets are explaining a historically elevated share of the price action.