Central Banks’ Gold Revaluation and Its Effects on Public Debt and Prices

I recently heard that gold prices may continue to rise, driven by governments that want to wait for very high prices before revaluing their gold holdings. The idea behind this theory is that by doing so, public debt would be reduced, if not eliminated, and in theory, I understand that would make sense. I wonder, however, what the price we, the people, would pay (increased prices?).