Not quite.
Waning trust in Central Banks and every economy OTHER THAN AMERICA's sends the world on a gold buying spree.
Real money sees the writing on the wall. Gold will destroy the Fed and a self-sufficient America will only increase in strength and influence, strengthening the US Dollar as a result.
If any country is going to back its currency with gold, it will probably be America first. that is DOLLAR BULLISH. Hugely.