Gold is just another fiat currency, plus at a high value it's even more worthless as a currency since you'd need such minuscule amounts to trade for goods/services.
All you have to do is think about it's actual uses. I have degrees in finance and economics.
All gold is IMO is a hedge against inflation by tying your monetary policy to the rate at which you can dig some shit out of the ground. Not remotely sane IMO.
It would be like basing the value of the dollar on corn. At least corn would have some real value though (fuel, food, etc.).