The gold standard merely prevented the government from inflating away the dollar and using inflation to hide the consequences of other bad policies. Its a form of discipline that the founders wisely put in place to prevent the disastrous policies that many other governments have perpetrated throughout history.
But now the constraint of the gold standard is off and much larger bubbles can be created.
The supply of gold changes very slowly. The vast majority of all gold ever mined is still part of the supply. Its the manipulation of the value of paper currency that causes demand for gold to fluctuate.