gold vs $aud

Novice gold investor here. But it appears a good time to start!

I'm really doing it to preserve capital, though relative to other assest hopefully this will mean a rise.

My limited experience of markets to date is that in times of uncertainty investors flock to less risky assets. This should means that
a) Investors flee the Australian Dollar / ASX despite it being fundamantally stronger than US and Eurozone
b) Traditionally the money would be parked in $US which was what perversely happened in the GCF
c) Given the weakened position of the $US, people will look for even safer assets , gold prime among them.

In very simple terms is my logic right?

In which case Gold in $AUD terms could significantly outperform (Gold up , currency down). Buying ASX gold stocks may not go so well because gold may be up but the currency will be down(in relative terms). That is quite apart from any irrational selling of stocks for margin calls, etc.

Best time to buy gold stocks will be once the currency stabilizes. Hold physical gold until that time?