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Definition of the gold standard. 1 : a system in which a unit of money (such as the dollar) is equal to a particular amount of gold The United States was still on the gold standard in the early 20th century.
A monetary standard under which the basic unit of currency is equal in value to and exchangeable for a specified amount of gold. 2. 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).