Sure, the USD will get bid up by casino patrons on the run, and as I think I wrote in a very early NFTRH during the 2008 crisis, gold and USD may rise together (or gold would decline much less than items positively correlated to the global economy) against a world of deflating assets. It is the only safe monetary asset.
Anyway, here is gold from two views, linear scale and log scale.
The linear chart shows gold on the verge of going MACD & TRIX up with higher to go if this particular crisis gains momentum. It has broken up above the blue dotted channel once again. A problem would be in a question… how many of the knee jerks that bought in response to last summer’s Euro event are ready to step up again? They got absolutely killed for their greed and fear. Gold usually does not reward greed and fear.
The log chart shows gold ho-humming up a channel with the green line a possible resistance point.
I cannot tell you if gold is going to get dinged here or continue to bust upward. But I can tell you it is healthy and it has benefited to this point from the various US and European events that show various myopic, manipulative and/or downright evil entities coming unglued.