If more dollars are needed to buy an ounce of gold than before, the implication is that the dollar is worth more.

Question

Quizplus · Accepted Answer

The United States returned to the gold standard in 1934, raising the dollar price of gold from $20.67 per ounce to $35 per ounce. Because more dollars were needed to buy an ounce of gold than before, the implication was that the dollar was worth less. This effectively amounted to a devaluation of the dollar relative to other currencies.

If More Dollars Are Needed to Buy an Ounce of Gold