As per Gold Standard, value of currency is linked to Gold. For example $1 = 5 gm Gold
If the price of Gold fluctuates, what will happen to the value of currency?????
Also inder this system, can the value of currency change like $1 = 7gm of Gold???
If yes, Then how and who could change it???

Dear student, 
Under the gold standard system of exchange gold was the common unit of parity between the currencies of different countries. 
It must however be noted that the exchange rate was fixed and could be changed only by the monetary authority. The exchange rate did not fluctuate as such. 

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