I also think the US could have a bull run later this decade, hopefully not based on inflation. I think there are technological changes that could make energy fairly cheap in the US, plus I expect the US to bring back its manufacturing base. Also with a new President and social change there may be a considerable reduction in wasteful government programs (has been happening already at the local level). Plus their population is growing.
The US has traditionally done best when it has been a fairly closed economy.
For punters on the ASXCasino timing is everything. Gold should still do OK if global wealth increases and interest rates stay negative in key economies.