I don't think Gold will ''plummet'' if the Fed adopts a hawkish tone. I actually think we need to see higher rates before Gold starts moving up in a precipitous way.
My reasoning here is that if rates were to rise, then, it would only serve to quicken the inevitable demise of all the big banks and the whole financial system.
When all the banks are falling over and everyone is panicking over the contagion, then, Gold will soar.
If they don't raise rates and maintain a dovish posture, then, the stock market will probably rally, or, have a soft landing, and gold will continue its upward grind.
I don't think it really matters at all what the Fed does at this point, one way or another, at some point in the near future there will be financial chaos and out of the wreckage, Gold will emerge victorious.
Cheers
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