Heterodox Austrian school of economics- why China and Russia want gold Standard?

Atul Sethi writes in the TOI “Now, countries like China and Russia want gold to be more than a steady asset. Russia recently advocated partial restoration of the gold standard — the old system of anchoring a country's currency to a specific amount of gold — to make for greater stability in the world monetary system. ”

However, the reasons expressed by economist like Arvind Panagariy is not at all clear.