market revaluation 75 cents., page-225

This is what I think has happened.

2019 financial year median gold price of 1250
2019 Aug to Dec rise to 1400 as anticipation of a government stimulus as the economy slowing.
2020 march covid gold spike due to uncertainty and used as inflation hedge.
2021 Start of supply chain shortage, inflation gold rockets.on inflation issues
2022 End of covid and rates reverting to normal, cost price squeeze hurting business.
Deflationary economy, fall in market sentiment, inflation issues fear of a recession.
2022 Feb end to low rates causing a stock market correction back to pre covid that effects market sentiment.
Gold sell off taking margins back to 2019 with a possible larger correction.