This is quite confusing - half the commentators say that the gold price is going to tank because of Trump's America first policy - inflation - US stocks the place to be etc.
The other half point to how gold actually went up during Trump's first term, and that the dollar and gold can sometimes rise in tandem. And the political instability / war factors are still around which makes it still attractive.
Who to believe is anyone's guess, I guess though that's the market, nobody has a crystal ball.
But H\here, you can see that from 2017 - 2021, during Trump's first term, the POG rose from $1,200/oz to $1,800/oz. Whether that will be repeated - who knows:
(20min delay)