Primary tailwinds: global economic outlook conditions (inflation development, fiat currency strength/weakness). Geopolitical/systemic shock conditions will be persistent - question is which one next/unexpected.
Lists US shocks over next 12 months: Supreme Court tariff decision, Trump-G meeting, next Fed Chair announcement, midterm elections - all will shock market, increase volatility, make gold better understood. Underlying all is economic uncertainty moving people to gold as right diversifier.