There are arguments for and against the relative value of XAU and whether it is still a viable investment. As always there is a lot of debate on the current value of gold and where it is headed in 2019, especially with all the uncertainties created by global rate policies, Trump, China and trade flows globally which are affecting asset values everywhere.
Usually with uncertainty follows Gold value and the last 6 months has seen XAU strengthen against the USD. You can use technical analysis techniques such as Bollinger Bands, RSI and Fibonacci retracement theory; which currently suggest the XAU strength against the USD should be meeting resistance around these levels. Emphasis on resistance rather than a correction at this point. In order to use Technical Analysis, you need to learn TA, it is best to use a mix of analysis to get a directional view, but you start with learning the different tools at hand.
There are different ways to invest and different rationales on whether you have physical gold or not. If you had invested in Gold Shares since 2005, you would have outperformed the S&P ETF 166% against 122%, as per the chart below since 2005.
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