I always wonder why gold going this high is seen as bearish to the dollar as the US currently holds 8,133.46 metric tons of gold, more than the next three top holders combined (Germany, France and Italy) and almost twice as much as China and Russia combined (although no one really knows how much China holds).

So I would be far more concerned on the impact of gold price going high on other currencies that are not backed by as much gold before worrying about the US.