Gold doesn’t go up and down in value, it is a measure of value. When you see gold go up in value, what you are viewing is the appeared value of the dollar.
They cannot print gold but they can print money. In the late 60’s when gold went up quite a bit, it took about 175 ounces of gold to buy a house (350/oz $61250 house) If you reverse the logic today you would come up with a value for gold of about 3,500 per oz (house value 600,00175=$3428 per oz)
If the US government was to devalue the dollar, it would not affect gold, it would appreciate in price.
If you want to hold gold, take delivery and put it in a safe deposit box.
Remember, there are a billion people in China that might also want to own one ounce of gold. That could seriously affect the price of gold
