What will the impact of US stimulus on INR and Gold be?

What will the impact of US stimulus on INR and Gold be? I was reading about a proposal to give every adult American a $5000 check. That money has to come from somewhere - which means printing money, which means inflation. If that happens, won’t our USD forex reserves be worth a lot less? And if that happens, will it not make our imports a lot more expensive? Likewise, if gold is largely imported, then it needs to be paid with forex, which we will have relatively less off. But at the same time, every country will have similar situation with regard to USD. So it seems to me, countries may try to take a defensive posture by preemptively dumping their USD reserves before that happens and hedging with something else - Gold. So before inflation can happen, should not Gold prices shoot up? But in our case, it seems complicated - because if we spend on buying gold, then what about forex for imports ? So if suddenly there is a crunch, i imagine it may hit companies dependent on imports? But at the same time, it seems to me INR will appear to be stronger compared to USD, but the USD will be worth less. What is your opinion? I feel this is extremely complex, and won’t just affect our country, it would surely affect the whole world, but already the situation does not seem great, so curious what will actually happen…