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To put it very simply - one more time - the $5000 gold call is what he thinks gold could go to in the event of a currency crisis. That is not difficult to understand and totally makes perfect sense. That is like any other forecaster making a call of what gold could get to when there is a currency crisis. It is not exclusive to Armstrong.
I went to that link you posted on Armstrongs post on gold - and he was very consistent in his calls. Goldman Sacs also proposed sub $1000 gold. For all we know we may see $700 gold soon... or less.
I'll make a prediction on Bitcoin: $2100 or less by 4/2021. Lower if the Coronavirus escalates.