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InvestHub.com's
Finance Dictionary and Glossary of Investment Terms

gold standard  

Definition 1.

A monetary system that backs its currency with a reserve of gold, and allows currency holders to convert their currency into gold. The U.S. went off the gold standard in 1971.
 

Definition 2.

A monetary system in which a country's currency unit is freely convertible into fixed amounts of gold.
 

Definition 3.

An international monetary system in which currencies are defined in terms of their gold content, and payment imbalances between countries are settled in gold. It was in effect from about 1870 to 1914.
 
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