Bluntly put, you're both right and wrong. Its true that some countries have been buying up more gold to rely less on the dollar - thats not new. And yeah, in the past gold was viewed as stable store of value you could count on.
But to say gold prices are always stable and not volatile just isnt right. The price of gold goes up and down a lot. Not like cryptocurrencies, of course, but still. The big price jumps we have seen lately is volatility, plain and simple.
If we compare the volatility of gold with other assets like fiat money, bitcoin or stocks...it is not wrong to say that gold is more stable.
People often say gold is stable, meaning it is not dumped and has little volatility due to factors such as inflation, economic crisis...Gold prices are stable but not fixed, we need to distinguish these two things are different.
Furthermore, volatility includes both increases and decreases but the term “volatility” is usually only used in cases where prices change sharply, suddenly and unpredictably.