Gold is not chemically inert. It a larger atom that slightly adheres to other metals with metallic bonds but tends to not form stable ionic bonds. Its also a common catalyst for a variety of reactions.

Your digestive system takes in solids and processes them but it has a size limit on absorbed particles. Powdered gold, even if mixed into a liquid is going to be more dangerous in the blood stream because large clumps that wouldn't make it through the digestive might be present. That could result in blood clots or other problems.