GOLD: should goldbugs expect a lot from this market?

Gold is hanging in there and trying to make another high with the rest of the markets. There is saying that goes " A rising tide lifts all boats" and clearly the markets are experiencing an acute injection of money supply in the recent months. The question is, how much should we trust in this new high on Gold. Twice before, Gold has made a nominal high, only to crush all holders and make them poor. This time as well, things almost played out like before, but surprisingly, this time, Gold is holding on to the 2k pivot. If another high is in the cards, then how much should we expect? I took some fib extensions from various pivots and targets could be somewhere between 2250 to 3100 ish.
From EW perspective, I am looking at a cycle degree wave 5 ending. Yearly RSI negative divergences on multiple pivot points that align with EW counts. And finally, Gold is not a recession hedge in macro terms as we have seen throughout history. So, as long as the rest of the market rises, Gold should also go up in price. But I will put my money on a faster horse.