Under Normal circumstances gold and US Dollar share inverse relation. When the US dollar declines other currencies tend to rise and there is a demand for commodity along with gold, this is because international gold is denominated in the US dollar, another reason is when the US dollar starts to lose value investors look for alternative investment sources to hold value which gold is acting from generations.
We have witnessed 2008 & survived which gave us the experience to look at the aftermath of situations like these rather than staying and panicking. As we all are aware that this situation was inevitable with or without COVID-19, if there was no pandemic then the tension between the US & China could have bought similar situations to the economy worldwide in one or the other ways. Always keep in mind that this is not the 1st one and obviously not the last one, this is a learning opportunity for every one of us to be alert and prepare for the worst things that might happen with backup plans for survival.
Watch out for the market trends in the longer time horizon to know and plan about the future investment as there are times when some markets are more volatile than other in particular period of times say for example in the current times stocks related to tourism industry and Tech industry are volatile than any other industry.