Maybe, its not that you are wrong I just could types a number of factors that interplay that could fill up alot of space including worsening economic data in China triggerd partly by Trump's trade war (worsening US data to likely follow).
Possible take off in oil prices over a longer term too, which can support their domestic fracking industry also and can stimulate their industry if they do it well without plunging the region into war. Gold is a hedge against government failure and uncertainty so it makes sense it will go well. The US dollar is a reserve currency for a reason because it thrives on uncretainty and we can clearly say Trump is a kingmaker when it come to making everything uncertain in the world and its economy.
Putin said a day earlier (not saying its directly related but could be) that the Federal Reserve Note no longer deserves the status and privilege of “world reserve currency”
