Not necessarily, there are a lot of factors. Supply for one. If supply increases due to new mines or other ways that supply increases in the market, it may counteract inflation's effect on its value. Also, if demand decreases because people do not want to buy your gold, you may see prices fall by those selling who are trying to attract buyers. If things get very bad, the demand may fall off as average investors stop buying but want to sell. Everyone dumping their 'hedge' in order to get cash to buy essentials can collapse the price.
This is why I don’t post on FR anymore.
Everyone considers themselves an expert on everything whether they know the first thing about it or not. You people will argue every point for the sake of arguing it whether it adds to the discussion or not. And these days there are so many people on this forum who are utterly convinced that their personal falsehoods are true, it might as well be a forum for liberals.
The poster of the thread sounded like he wanted a real answer and as usual on FR, he was getting a lot of noise, but no knowledge. Since it’s an area I know, I figured I’d help out.
Serves me right... no good deed goes unpunished. I should have learned my lesson and stayed away. But at least that’s not a mistake I’ll make twice.