The simple answer is that the gold standard required a very specific set of conditions to exist;

First, there must be fixed unit of account linked to a bullion weight (i.e. a dollar is always worth a dollar and an ounce of gold is always worth, for example, $20.67). Second, minted coins must be in free domestic circulation and bank notes can be freely exchanged for bullion on demand. Third, other coins in circulation are subordinate to the gold coin. Fourth, no legal restriction on the conversion of coin to bullion exists. Fifth and finally, there were on restriction on the international movements of coin and bullion.

In practice these conditions can no longer meaningfully exist in a modern economy.

There is also a perhaps what could be termed a 'misapprehension' of the gold standard that is was an economic orthodoxy of its own. Rather it was a phase in the transition of the international trade economy from a series of bilateral bartering arrangements to the current credit based multilateral system. Between the transfer of one good directly for another, and the transfer of good for fiat currency, a stop gap was required that could back the value of currency with a tangible good. For most of the period where commodity backed currency dominated European trade (~1700-1870) there was actually a bimetallic standard (Silver and Gold). The "gold standard" was only in effect from the mid 1870s until 1913 (This period also saw relatively little actual physical transfer of gold, as the sophistication of London's forex settling houses meant that only large and persistent imbalances settled by the physical movement of bullion or coin.) The first world war saw the halt of all conversion of currency to bullion as was necessary to run the war-time economy.

After the first world war there were some nominal returns to the gold standard, but this was little more than window dressing as very few if any of the necessary conditions were recreated in the nations which attempted a return. In effect during this period the 'Gold Standard' was little more than a means to engender market confidence in the stability and common value of what was essentially fiat currency.

Further Reading:
Kenwood A.G and Lougheed A.L. The growth of the international economy 1820-2000 4th ed - Chapters 6, 7, &8
Foreman-Peck J. A history of the world economy - International Economic relations since 1850 - Chapter 8