Nonsense.
Gold is a usable material.
Everything from jewelry to electronic components.
Gold is not money it's a resource.
US dollars are not money either they are debt tokens. Negative value, only used because of the violent state backed monopoly.
Discussion
I'd say the monetary premium tending to zero (rather than the money itself) is more likely. Gold price would in that case go to its utility value. Debt tokens would perhaps be repriced in the winning money to some extent? Imo if there's a chance the monetary premium of gold disappears, it'll happen far from now. Most likely some of the monetary market cap should still be captured by other monies than the main winner.