This is mental, page-95

worzel

Increasing rates wont push the POG down. During the entire decade of the 1980's which was the highest interest rates in history POG doubled.
It is a story some bears and others with an axe to grind like to portray as the death of Gold.
Mostly people who did their money on gold near the top.
They also like to say that Gold is not worth holding because it pays no dividends and has a cost associated with holding it. Strange that people buy and hold property which has a much higher holding cost when you add in rates, insurance and the big one for property, maintenance. When you have a look at some of the returns sprukers talk up on property they always leave out maintenance.
Property goes up with time as does Gold regardless of some piddling cost of holding.