a monetary standard solely in terms of gold, in which the basic currency unit is made equal to and redeemable by a specified quantity of gold
- A monetary standard under which the basic unit of currency is equal in value to and exchangeable for a specified amount of gold.
- A model of excellence; a paragon: “Several generations of the laser have been widely available in Europe; the FDA approved the one now considered the gold standard” (Daniel Goleman).
(plural gold standards)
- (economics) A monetary system where the value of circulating money is linked to the value of gold.
- (idiomatic) A test or measure of comparison that is considered ultimate or ideal.
- The OED is the gold standard for English dictionaries. Everyone wants to see how their version measures up to that ideal.
gold standard - Investment & Finance Definition
A monetary system that allows the conversion of currency to gold at a fixed price. The U.S. quit using the gold standard in 1971.