1The system by which the value of a currency was defined in terms of gold, for which the currency could be exchanged. The gold standard was generally abandoned in the Depression of the 1930s. Compare with silver standard.
- The classic gold standard was a monetary regime constructed to preserve financial and economic stability.
- National currencies based on the gold standard were thought to be uniform, leading toward a global monetary standard.
- The British thereby laid the basis for what was to become the world monetary system based on the gold standard and bank notes.
1.1The best, most reliable, or most prestigious thing of its type: you can’t rely on lab tests as being the gold standard
More example sentences
- This type of process may then be used as best practice, serving as a gold standard to be implemented in other facilities.
- Once upon a time, Disney provided the gold standard in family entertainment, from animated fairytales to Mary Poppins.
- Despite their intriguing objectivity and precision, billing records do not provide a gold standard.
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Syllabification: gold stand·ard
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