I tried generating updated content for my website the other day and Hugo threw an error instead:

hugo v0.88.1-5BC54738+extended windows/amd64 BuildDate=2021-09-04T09:39:19Z VendorInfo=gohugoio
ERROR 2021/09/10 14:59:54 [en] REF_NOT_FOUND: Ref "exchange-clustergroup.md": "C:\myblog.dev.repo\content\post\exchange-transaction-logs.md:15:458": page not found

I went back and triplechecked my code: the formatting of the ref block was proper and had no typographical errors.

I finally realized that my Front Matter tag draft: on the destination page was set to true. This meant that when Hugo was building the code, the destination page wasn’t being generated, which meant that there was no destination page for this reference to link to.

Changing the Front Matter to draft: false allowed Hugo to generate the content properly.