Gold must re-rate as US10 year is at almost 5% pa and curve...

Gold must re-rate as US10 year is at almost 5% pa and curve inverted, and hence there is a fiat money correction in place due to the rate of inflation these measures are being used address. The only thing holding the POG back currently is the real rate of US inflation. Once the 10 Year rolls over 1Q24, the US$POG will resume its upward trend and Australian producers will get the benefit of a continuing weak A$. For existing or growing brownfield producers, ASIC increases through fuel, service and labour costs, is the key EBITDA risk. Being able to hedge at A$3000/oz must be tempting, but I'd be inclined to keep the book light though out 2024.