The gold standard was a monetary system in which the value of a

country's currency was fixed to a specific quantity of gold. This meant

that the currency could be exchanged for a fixed amount of gold, and
that the supply of money was ultimately limited by the amount of gold
a country had in reserve.

The gold standard was popular in the 19th and early 20th centuries,
but it fell apart during the Great Depression of the 1930s.

Reason for decline of gold standard:

One reason for this was that countries were hoarding gold and not
using it to stimulate their economies. This led to deflation and reduced
economic activity, making the Depression worse.

Another reason was that the gold standard prevented countries from
using monetary policy to respond to economic conditions, since they
could not simply print more money as needed.

Explanation:
The gold standard was popular in the 19th and early 20th centuries,
but it fell apart during the Great Depression of the 1930s.

Explanation:
Given these challenges, it is unlikely that the world will return to a
gold standard or use gold as a currency in the near future. While some
individuals and groups advocate for a return to the gold standard, most
economists believe that the flexibility of fiat currency, which is not
tied to any physical commodity, is a more effective tool for managing
monetary policy and stabilizing the economy. While the gold standard
served as a useful monetary system in the past, its limitations and
challenges make it unlikely to be adopted in the future.