This is easy. The value of precious metals over the long run is some premium over the cost of getting new product to the market; and no more than that.
To a large extent, the value of gold is perceived and not really based on actual worth. Don’t be surprised if it goes down another 15-20%.
If one needs to buy when its low it is a good thing if one has to sell when they are low it is a bad thing.
“To a large extent, the value of gold is perceived and not really based on actual worth”
Like the U.S. Treasury notes in your pocket? The ones valued FAR more than their cost to produce, even though they are backed by NOTHING, not even their cost to produce?