Gold is both good and bad but depends on who's hands its in to be the defining factor. Many governments have gold reserves at their disposal due to it having monetary value and strength even when the countries own money system might be weak. I.e., a dollar being worth less than a euro and vice versa.
When governments take these hits it’s usually due to either economic decline or interest rates declining. Gold is a good means to fall back on when times become though.
However, when in the government’s hands its preferable for the government to have the gold than actually use it. While this might seem strange there is a method to this madness. If countries were to put their gold out for sale they would tank the market due to the surplus. 
For now, most governments hold onto their gold in the off chance that their currency looses its value so they can, in a sense, manipulate the market to their benefit and stay afloat. This makes gold not dependent on the circumstances of how it’s used but by who it’s used for and against.