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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.
In this context the meaning of the word standard is âauthoritative or recognised exemplar of quality or correctness.â âGold standardâ is the popular term to describe this test; but âgolden standardâ is sometimes used as well.