Meaning of gold point | Babel Free

Definitions

1. The values above and below the mint par of two monetary units on a shared metallic standard at which it became equally cheap to import or export gold or silver bullion instead of resolving trades through credit instruments such as bills of exchange.
   historical
2. 1036°C, the melting point of gold.
   physical

Examples

“The New York exchange⟳ has kept hovering at only a little above the gold point⟳.”

“We find⟳ that the rates at which one currency will exchange⟳ for another fluctuate between two limits on each side of the Mint Par, marking the points at which it becomes more profitable to send⟳ or to receive⟳ gold rather than to send⟳ or receive⟳ a credit instrument. These theoretical limits are known as the gold points.”

CEFR level