This shouldn't be so nation specific. It's more gold system in the world. Some amount is enough, but more then the GDP is just makes its value less, that means inflation. So for example, One province Austria concuering that gold province next to it should have big inflation. As for example if Portugail concuers Aztecs. Then the amount of inflation should be just catastrophical. And of cource, inflations in different countries that trade one to another should be connected, because it's impossible to have one product in one province by one price and in some province nearby by another, just because there were no inflation. That's not good economical model.