So, gold went above 2,000 $, but now even the Fed admits that they're expecting "uncomfortably high inflation rates" for another 12 months (my prediction: at least several years!). Turkey and Europe are experiencing 10+% inflation. The Russian invasion of Ukraine is still ongoing and the west has launched sanction that will hurt everyone. Europe will not survive unless it pays through the nose for "alternative energy sources", because they are so tightly connected to the Russian gas and oil. Higher interest rates on USD and EUR and other European currencies will likely be pushed forward later this year, all prices will rise. Many products will become scarce. What do you think, what will happen to gold's price this year and next year? Will higher interest rates push gold's price down? I think this is not a guarantee, because if money gets eroded a lot (e.g. interest rates above 10 %), then people will rather turn to a safe haven (like gold) instead of accumulating money at the bank, waiting for returns (through interest), because that money will be worth less in a few months. But I think if the interest rates are small enough, then people might feel it's worth keeping their wealth in USD, EUR, CHF, GBP etc.