That would assume a narrow reason for purchasing gold. The fact that it didn't fall (along with fiat) can mean that it is also a win. It really depends on your goals. Gold has often been seen as a hedge.

If your goal is to just make as much fiat as possible, then you can ultimately point to the best performer, and claim it is the only good option; but that's not how successful investing has worked in the past. The successful investors have always used multiple assests to maintain, or increase, their position.