Gold bugs still haven't figured this out, his isn't the 1970's, you have 8% inflation gold hasn't gone anywhere. Why? Your thesis is incorrect. Gold is inversely correlated with bond yields since GFC. The capitulation and reversal of treasury yields will propel gold higher not lower. As mentioned earlier in this thread the demand destruction is already pushed back Fed QT which means they'll likely not QT at all.
gold correction target $1, page-2
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| Open | High | Low | Value | Volume |
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