Gold Standard Definition

The gold standard is a monetary system in which a country's currency value is directly linked to a fixed quantity of gold.

What is the Gold Standard?

Under a gold standard, currency could historically be exchanged for a set amount of gold.

Most major economies moved away from the gold standard during the 20th century in favor of floating exchange rates.

Before 1971, the U.S. dollar was linked to gold under a version of the gold standard.

A gap is a difference between the closing price of one trading session and the opening price of the next, with no trading in between.

GDP is the total monetary value of all goods and services produced within a country over a specific period.

Going long means buying an asset with the expectation that its price will rise.