Are interest rates being raised to keep the price of gold down while countries hoard gold to back the new currency? Read between the lines in this article:

"The “voracious” rate of buying has helped bullion prices defy surging bond yields and a strong dollar to trade just shy of $2,000 a troy ounce."

The exact opposite of this sentence. The increased interest rates kept price of gold steady while countries are hoarding gold.

https://www.ft.com/content/abc39431-1755-4906-b11e-ee9e53baadfe