https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

More like ~$300 USD/ounce. So you take into the inflation of the USD which is 1 dollar in 1970 is roughly 7.50 today - that makes gold not have any increase whatsoever vs. the USD. In fact it's almost identical to a 4% cash bond.

So investing in gold is like investing in cash bonds - which is to say it's a shitty investment to make money, but has near guaranteed value.

If you want to buy 99.9% of stuff with gold you would first have to sell your gold to get a currency. And the exchange rate of gold is based upon USD per ounce.

There will never be a need of gold as a currency, only as a commodity. Gold is the same as lumber and oil - they are commodities that are traded for a set value.

Gold value is related to the US dollar. An ounce of gold = a set amount of USD based upon commodity trading. So if the USD loses value so does gold.