I have just read an excellent article by Adam Hamilton that analyses fifty years of US FEderal Reserve data against gold prices to see if the current mantra that rising rates are bad for the gold price is true or not.
the quick summary is that in all 11 rate rise cycles (3 or more interest rate hikes in a row) gold gained an average of 27%. In the six cycles where thr Fed raised rates slowly gold gained 60% and in the five where they panicked and raised every meeting quickly gold dropped 13%.
This shows once and for all that rising rates are GOOD for gold, especially if the rising rate cycle begins when gold is coming off a low. Enjoy the read here: