"Gold goes up with inflation and retains and increases in value...

"Gold goes up with inflation and retains and increases in value during deflation. It becomes the magnet for people looking for an asset that isnt deflating in value."

Strange. Does it mean that from 1980 to around 2001 gold went up with inflation? I don't think so as it went from around $ 850 to $ 271 . And does it also mean that during the Japanese first lost decade (1991 - 2000) gold gained value? I also don't think so.

Yes, gold performed well during the deflationary thirties, but was not that due to having its price set up by decree? A fact that made possible for Roosevelt to change its value with the stroke of a pen?

https://en.wikipedia.org/wiki/Executive_Order_6102