Here's another link to a pro's forward look at commodities, including gold.

"...we are once again running into a longer-term bullish trend of commodities, real assets, and infrastructure, all of which I expect to be a big theme (albeit a volatile one) throughout the 2020s decade due to a period of underinvestment."

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"...if these various limitations persist and result in a slower-growing China with more constrained industrial capacity, it is likely to shift some of these pressures back to the rest of the world in the form of shortages and price inflation."

https://www.lynalden.com/august-2022-newsletter/