Gold will eventually rally, but I don't think it will break free until China and Russia want it to. Both of these countries have been stacking hundreds of tons of shiny for the last two decades.
The U.S. wants gold price low to defend the dollar, and China wants gold price low so they can continue to quietly stack. When the Chinese are confident that their gold-backed CBDC is ready to challenge the dollar, they will make their announcement, gold will moon, and the world will shift under our feet. 1/14/22