The canary in the mine is CopperCopper is a leading indicator...

The canary in the mine is Copper
Copper is a leading indicator and has fallen 13% in 3 months which indicates a slowing world economy. Deflation which is golds enemy.

Inflation
USA and Britain inflation at 8% expected to reach 10% to 12% by xmas USA economy shrank by 1% stagflation.
When interest rates rise gold will fall and the ASX will retreat 10% for every 1 % rise in rates. USA interest rates will likely reach 5% or go higher.

Interest rates.
The world is suffering from high inflation after covid and slowly raising rates.
The gold price will likely fall by $600 usd as the USA raise rates.
Every .5% rise in rates gold will fall $100 usd.

USA will rebound if they do another QE. but they have run out of money.
USA debt $10 trillion 2008 now $30 trillion.

Strategy
The best thing RMS can do is conserve cash, the dust will settle within 18 months.