Interesting. I cannot help but wonder if this is not a response to the petro yuan. For years the petro dollar has kept the USD stable and has made it a pseudo universal currency slash safe haven. Characters such as Gaddafi and Saddam Hussain who tried to trade their oil for something other than the USD were punished with the full might of the US military. But China is not Libya or Iraq. We have seen some very overt demonstrations of Chinese military strength in recent time and taking them on would not be a situation that could easily be contained by the US.
So now, as of a week ago, the Chinese are paying for their oil in yuan BUT they are giving their oil suppliers the option of being paid in gold. This may in part explain why the Chinese have been amassing tonnes of gold for a number of years. One observation I heard in the last week was that in dollar terms there is about 20 times as much oil traded annually as there is gold. Therefore for the system of oil for gold to work the POG would have to increase by many multiples. And now after all these years we are seeing a proposal to reconnect the USD to gold?? Maybe I am way off but I cannot help but wonder if these two things aren't connected. Is the US trying to keep the POG down or keep the USD from crashing?? These are strange days indeed.
We should bare in mind though that a rising POG is mostly good for producers moreso than explorers but if gold went intergalactic then some of the shine (pun intended) would certainly rub off on the explorers. Gold would be the new lithium.
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