IMO We can expect a sustained upward movement in the GP from the start of 2022, when the London bullion banks have to adhere to Basel3 NSFR rules. Until then, these banks are busy trying to drive the GP down to get out of their derivatives short positions, so expect some price volatility until at least early January. If all goes well next year, when gold becomes free from the leverage of the paper gold trade, (which has the effect of creating a a huge fake volume of available gold), the gold metal will start to find is true market value. When people discover that there is much less gold available than the paper gold derivatives smoke screen pretended, they will likely be shocked. The Taiwan situation worsens daily. Biden has said the US will defend Taiwan. This is unacceptable to China, so the 'battle lines' are now drawn. Rather than commencing a shooting war to recover Taiwan, China could resort to a monetary blow against the US dollar by some actions using its gold, and/or dumping US treasuries. We can expect bullion buying pressure by Sovereigns to hold the up the GP well above the 'smashes' which the bullion banks would like to deliver to the GP this year.
