If gold (a mere commodity) is ‘revalued’ then that means the dollar has been devalued.
What's that saying, one ounce of gold will always buy you a nice suit no matter how much time passes; not so with paper money that becomes worthless over time.
“If gold (a mere commodity) is ‘revalued’ then that means the dollar has been devalued.”
Like it or not, it is not a mere commodity. It has been the universal foundation of money for a couple of millennia. It has held its value perfectly with the price of things around us since that time.
It’s a poor investment, but a fine store of value.
So yes, it does mean that the dollar has devalued. I doubt it will be 8000 an ounce. But if it did, that would mean dollars were like Weimar marks. The gold can be saved until the drama ends and then converted into the new currency.