Yes and no. The value of money is more accurately measured by goods you can buy with it. Since inflation is realitively low and the dollar is doing well against other currencies, it is hard to make a case that the dollar is falling like a rock. Gold has just been undervalue for many years, and it is finally regaining its luster. I am not sure why gold bugs always try to sell gold based on doomsday economics. Gold could hit $750-$800 this year, but that does not mean the dollar has dropped 25% or that the economy has tanked. I think the dollar will remain strong, the economy and the stock market will have good years, and the price of gold will continue to go up.
Especially after the government factors out food, energy, housing and medicine.