Ann: GNM Closed Oversubscribed Placement, page-17

the current AU gold price, is sufficient for many exploration to come develop.
But the fever, comes with a rising commodity trend. Hot sectors.

You either believe the underlying principals that will give strength to gold, or you dont.
Inflation, destruction of FIAT, and maybe, a chinese currency backed by gold etc.
There is also a demand cycle that may come from needing a means of exchange, in hard form, outside of cash that could be removed by a all digitial currency, that could also deny you access if you are a bad citizen, digital identity. As per china credit score. Digitial identity Bill is being put through parliament. I hope it gets rejected.
Holding physical gold or silver becomes the black market trade in goods.