https://www.*****.com/news/2022-01-26/Goldman-Sachs-long-Dec-22-g...

https://www.*****.com/news/2022-01-26/Goldman-Sachs-long-Dec-22-gold-sees-prices-rising-to-2-150.html

as you can see from the article, the academic point under tension/ dispute is whether gold benefits from inflation as a historic hedge or whether inflation leads to rising rates which leads to a rising usd which is bad for gold. Goldman and I both believe the former , an
d the aud is a natural hedge against the latter anyway, hence I like gold stocks or the Pmgold aud denominated bullion etf over usd denominated gold etfs.

oh and there is the recent hedging book screenshot that I forgot to add to my initial post.

having said all that, no one knows for sure what happens next for the nst share price, the gold price, the aud, inflation or rates and the future is especially unclear the further out we go in time ie years vs months.

but the risk reward at these levels looks favourable to me imho.