If gold is priced in USA $
and putin set a price of 5K/gram
then inflation hits, USA can't pay interest bill due to not enough GDP (aka bankrupt), looses global currency status…
USA $ goes zimbabweeeee.
In numeric terms gold might have a high US$ number attached, but aussie $ is now worth heaps compared to USA $ (we have gold, uranium, iron ore, bauxite etc etc and produce 5x food we consume)
So I think gold will get cheaper for aussies.
esp since putin has it pegged.
but what is "money" anyhow?