imo only from my limited understanding of macro economics.black...

imo only from my limited understanding of macro economics.
black swan events not withstanding, if gold holds above usd $2000 which was previously resistance level then this becomes support. also from technical perspective reverse head and shoulders on the gold chart could play out with upside to usd$2.3k-$2.4k in 2024.
US banks that took out loans with the BTFP to prevent them from failing will have to start paying back those loans in March. this could lead to liquidity problems especially if bond yields increase.
possible that the FED is doing some YCC similar to BOJ and buying up the debt to keep bond yields at whatever acceptable level they deem.
banks may stop lending as they struggle to pay back the loans which in turn may lead to issues for businesses looking to expand or requiring capital injection to stay afloat.
some businesses may not survive and others may have to downsize unless the Fed steps in with new round of money printing (qe) and being election year next year, chances more likely than not they do and will potentially occur in a period where inflation is still above the Fed 2% target.
more money printing leads to more erosion of usd purchasing power (ie inflation) and potentially a flight of capital to commodities and cryptos as a way to preserve purchasing power. this should see in a flow of money into commodities and mining stocks.
it remains to be seen how the Fed will respond to rising commodity prices and what measures will be taken to prop up the usd especially as the weaponisation of the usd continues and brics+ nations start trading outside of the usd and with demand for usd not as strong as in the past from some of these nations putting even more pressure on the usd.
hopefully 2024 should see the start of a bull run for commodities and especially precious metals that lasts a few years.