The gov’t confiscated gold once, they would surely do it again.
Gold has too much upward pressure because of inflation (quantitative easing), longer term.
Its all a risk reward proposition. What is the cost of confiscation versus simply buying it? What would happen to the value if it there was no market to trade it on? Could the plan and execution of thus be done in a timeframe that could allow for its fulfillment? This isn’t 1933. If it gets down to that happening, the country would look very different than it does now.
Not a lot of Americans own gold. Too many of us would rather spend than save. The currency is no longer backed by gold. A gov’t search from house to house or in safe deposit boxes would yield a lot of jewelry but not much bullion. The bullion is in banks and is owned by the big boys like Goldman Sachs. Confiscation of wealth via inflation is more likely.