In 1932 a one ounce gold coin was $20 (Twenty dollars). The spot price was $20.69 and had been approximately so for a hundred years. Roosevelt devalued the dollar to $35 in 1933 and it stayed there until the US went off the gold standard and began issuing fiat currency in the nineteen seventies. (When a gallon of gas was twenty cents, the average home price in Southern California was under $20K and a new, fully loaded, full sized American car was around $4K)
Yes. I think gold may well hit $5,500 per oz. Or more properly, the dollar will sink to $0.0036 compared to its value at the inception of the Federal Reserve.
BTW, the current value of the dollar, compared to its value from the inception of the Republic through 1932 is $0.018. Not quite two cents
Another article I saw put the deflator from 1950 through 2007 at exactly 10:1, so that a 2007 dollar was worth one silver FDR dime of 1950.
Then there's been some inflation and deflation since 2007, only I haven't seen a number. I'm guessing about 15%.