Examples of gold standard in a Sentence
the gold standard for accurate experimental procedures is the double-blind medication trial
Recent Examples of gold standard from the Web
No gold standard proclamations for this dream team.
White’s book ends in 1896, with the debacle of the agrarian Populist movement and reconsolidation of a Republican Party that now worshiped the gold standard and protective tariffs.
Particularly ballsy was a study pitting Alto against the industry gold standard antioxidant serum, in which skin treated with Alto had 53 percent less oxidative stress.
For suspected allergies or sensitivities, the gold standard is to ‘feed by exclusion,’ removing certain ingredients to determine which specific ingredient or ingredients trigger the immune reaction.
However, the Elias Sports Bureau, the official statistical custodian for Major League Baseball, has always regarded the Giants' stretch as the gold standard because tie games were replayed from the start back then.
Although the gold standard for deployments once was six months, amphibious vessels recently have been sent out for close to twice that.
The current gold standard in medical adhesives is none other than superglue.
At this final step, the gold standard is to use a computer algorithm to simulate many maps that satisfy the state’s legitimate redistricting criteria.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'gold standard.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of gold standard
Financial Definition of GOLD STANDARD
What It Is
The gold standard is a monetary system in which the representative currency is based on a fixed amount of gold held by the central government.
How It Works
Paper currency is actually a "legal note," i.e. a debt between the currency holder and the government. In theory, currency represents the obligation to make a payment of the stated amount when presented to the government. When the gold standard was in place, an individual could present a $10 bill to a federal bank and receive $10 worth of gold in return. Gold was used as a base, because it was durable, rare, and almost universally valued.
The price of gold became a barometer for the underlying value of an economy. But because gold is a tangible asset, the price of gold can rise and fall rapidly. It's also subject to speculation, discovery and theft. As a result, the value of currency based on gold depends on the value of gold.
In the last century, the world's economies grew too quickly to be accurately represented by the world's reserves of gold. Therefore, gold standards have been abandoned by almost all economies. The United States abandoned the gold standard in 1971.
Why It Matters
While the gold standard regulates the value of exchanges throughout the economy, it also limits a central government's ability to make monetary adjustments in the current global economy.
After the abandonment of the gold standard, governments gained more ability to affect economies through monetary policy. Monetary policy is contingent upon the central government's ability to adjust an economy's demand for money through interest rates and the supply of currency. This is especially important during times of emergency such as war or natural disaster.
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