Gold is inflationary. Technology will always find new ways to extract more and more gold from the earth. Eventually they will figure out how to mass produce it through industrial processes
Technology finds ways to do alot of things faster which is a good thing. I think the thing you are forgetting there is the gigantic population increase, so there is tons more gold but even more then that is the larger amount of people
So per capita over the world, gold is not inflationary. It doesnt make much sense to say that, in ancient Egypt the price of a field of wheat was roughly the same as now; if you measure it as exchanged for gold.
That should be impossible it seems, the world is so different and there was certainly far less people plus they made the wheat by seeding with hand tools?
The answer to the OP is simple, no its not having that radical an effect. How many people here spend gold coins. We have already debased any link to gold, right now its meaningless. The centre of the world economy right now is Washington politics, its not some metal dynamic.
Technology here is trying to take some power back via innovation and cryptography, convenience but look at bitcoin market cap and its nothing. BTC is barely even a small NYSE stock size, its a fly on the windscreen of a juggernaut. Gold is not massive either afaik, oil is big yes and the biggest market is government debt
