This Chart Will Have You Rethinking What You Know About Gold And Home Prices

Some have attributed the gold price rally to the Federal Reserve's expanding balance sheet. Other have argued that it was driven by increasing investor accessibility thanks to the advent of commodity ETFs.

Jeffrey Gundlach, the bond king behind DoubleLine Funds, offered an alternative take.

During his webcast on Tuesday night, Gundlach presented this interesting chart overlaying gold prices and home prices.

"When home prices were falling, that's exactly when gold went on its monster rally higher," he said.

The pattern represents investors' struggle to seek a safe haven to store and preserve wealth.

With home prices now on an upward trend, real estate has become a viable competitor to gold, explained Gundlach.