Quite possible, even likely.
But there's a story floating around that says China is the world's number one producer of gold and is the number one importer of gold and has outlawed the export of gold. The story is that China has now amassed almost enough to put its currency on the gold standard and make a bid for replacing the dollar as the world's reserve currency.
If that's true and it happens, it won't fall with the dollar but will be the bully that shoves the dollar into free-fall.
That is what I have read in many article too.