Gold Standard is a monetary system in which a country’s government allows its currency unit for being freely converted into fixed degrees of gold and vice versa. The exchange rate under the gold standard monetary system depends on the economic difference a great ounce of precious metal between two values. A gold standard is a monetary system in which the standard economic product of account will depend on a fixed level of gold. Three types could be distinguished: specie, swap, and bullion.
Gold Standard
