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
The responses are eye-opening, but do not necessarily represent the gold standard of politesse.
On the bright side, these same corruption investigations have made Brazil the gold standard of judicial independence and rule-of-law in Latin America.
Her stories led me to believe that playing hard to get was the gold standard.
Supportive housing is the gold standard of residences for hard-core homeless people — the term refers to rooms or apartments in buildings with counselors on-site to shepherd them through the addictions or other afflictions that ruined their lives.
McClure's Bloody Mary Mixer is the gold standard as far as mixers are concerned — spicy with a distinct flavor of pickle brine.
So issues like anti-trust, issues like the gold standard, the income tax, these were all major constitutional debates, both in the courts and in politics.
And while no pet is superior to any other by species, breed, or hair cut, there is one type of dog that is setting a gold standard for our interspecies relationship goals: The golden retriever.
In 1931, during Norman’s long governorship, the bank’s insistence on public spending cuts to maintain the gold standard caused the collapse of a Labour government.
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.
Learn More about gold standard
Britannica.com: Encyclopedia article about gold standard
Seen and Heard
What made you want to look up gold standard? Please tell us where you read or heard it (including the quote, if possible).