Usually when the price of gold rises, it is because the currencies are losing value - it isn’t like gold is becoming more scarce. The rise in metals after the 2007/2008 recession was caused by the loss of value in paper currencies; at the time we were told the debts incurred/bailout added years to every Americans’ career, and now we’re seeing that play out - people can’t afford to retire, and the government is inching up the retirement age.
Try to explain that to many of our stupid school graduates and all you will see is a blank stare. Their debts are as illusionary as their degrees are valuable.
Might currency devaluation also explain the pension crisis in which many pensions seem to be underfunded, and becoming more so over time (i have not had a chance to sit down and contemplate this fully myself)?