It can, but gold is about the only thing (next to clean water) on our planet that is guaranteed to maintain its value (within a margin, of course.)
Actually, not even "within a margin". Gold's intrinsic value has never really changed. It's the dollar that's been jumping around like a monkey going up and down (mostly down) depending on what new arbitrary round of market manipulation central banks have decided to do. Holding a gold bullion in your hands is still the odly greed satisfying experience that it has always been, and showing off your gold will still make your neighbours jealous and expose you to robbery, just has it has always been the case.