You have it backwards. The dollar has booms or busts and it shows up immediately in the price of gold as gold falls or rises, respectively.
Prices are the result of 2 supply curves and 2 demand curves: the supply and demand for an item and the supply and demand for dollars (more generally, the unit that item is denominated in). Gold's supply and demand curves are fairly static. You cannot simply look at price fluctuations and say therefore the value of gold is rising and falling since you are then ignoring the value of the dollar.
Making things a little more difficult, most currencies move together since we are in a global economy with global trade with central banks that follow similar methodologies. If gold is soaring, but the EUR/USD exchange rate isn't moving too much, it simply means the EUR and USD are inflating together.
The way you see this is by looking at the effects of inflation. This is why so many (poor Keynesian) economists get it so very wrong. They see and flat EUR/USD and assume no inflation and then get really confused by it so they play games with pricing metrics to make it magically disappear. Higher prices cased by inflation will slowing trickle though the economy starting in commodities, moving through the economy finally impacting durable goods and wages on the other extreme (also, this is one of the reason the core CPI and GDP deflator are often poor measure of inflation because they are many years backwards looking).
This also leads to the confusing about "cost push" inflation. The full story isn't that higher oil prices lead to higher goods costs, it is that excess liquidity flows into commodities first and then that liquidity ripples through the economies as contracts renew. All else being equal, if you help the money supply constant and oil prices went up, goods in the rest of the economy would fall. That relative price movement is the market signal to produce more oil. Inflating currencies ruin this pricing signal by showing false signs of scarcity.