The end of the petro dollar agreement which expired on 9th of June 2024 will likely contribute to the long term rise of gold. Trump will fuel the movement of petro dollars into other assets The antagonistic US government will alienate US from trading agreements and cause inflation in the US. When the USD starts to fall there could be a much larger gold price increase.
2020 to 2024 median gold price around $1900 USD 2024 March gold jumped $200 ounce. OPEC oil trade 700 billion USD year Saudi 250 billion USD year
A toxic relationship with the world would really hurt the US.
Could the end of the petro dollar agreement have triggered some of the gold buying by central banks.
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