That is exactly what will happen.
If we get to the "dooms day" scenario where gold is supposed to be what you want to have, food, fuel, etc are going to become rare relatively quickly. I can see it taking at most a year or so for current stockpiles to be plundered, consumed, or destroyed. Gold will buy surprisingly less and less in the end.
At best, it will delay the inevitable. Bullets and guns are a better investment. One bullet will grow in value, not go down.
Bullets and guns are a better investment. One bullet will grow in value, not go down.