Is Gold Pro-cyclical or Anti-cyclical?

Is Gold Pro-cyclical or Anti-cyclical?
There are no two identical business cycles. Their courses depend on the many independent actions of market participants. Also, each time money flows and spreads out differently in the economy, affecting distinct prices in various ways. However, according to a general pattern, business cycles can be broken down into four stages, during which distinct assets classes, including gold, behave differently. To understand what may happen in the gold market during a possible recession, we have to examine how changes in the business cycle affect the performance of different asset classes.