The bond market and the yield curve holds the cards for Gold, after the stock market crash. The yield curve is diving towards 0. When it nears 0, the Fed will stop hiking and turn to rate cuts. Real interest rates peak and decline when the Fed stops hiking.
Gold & gold stocks will bottom when the Fed hikes rates. They will accelerate to the upside when the yield curve forces the Fed to cease hikes and cut rates to 0 again.