Geopolitical Landscape Has ChangedThe geopolitical landscape has changed since Russia invade the Ukraine.
Since 2020 the price of gold has remained elevated albeit with fluxuations.
Three times the price has popped over $2,000 and is currently getting close to breaching 2,000 again.
https://tradingeconomics.com/commodity/gold
Since the begining of this year gold became a tier on asset making it a reserve asset challenging U.S. treasuries. Central banks are selling off treasures building up their gold reserves to record levels.
More and more trading is being done in local currencies reducing USD share as a medium of global trade.
BRIC group has expaned to 11 to further relationships free of USD hedgemony.
The petro dollar role is diminishing as more oil is being traded without USD.
These fundamentals are pointing to a gold price that will not only breach $2,000 again but remain above $2,000 this time to keep climbing.