Answer:
in the gold market; to the monetary authority; Rise
Explanation:
A gold standard is defined as the monetary system in which a country's currency value was directly related to the gold value.
If the market price of gold is lower than the price set by the monetary authority, then the people will buy more quantity of gold in the gold market because of lower price. People knows that the official price of gold is higher, so they sell the gold (that is purchased at the cheap market price) to the monetary authority and earn the profit.
Lower price of gold will increase the demand for gold in the gold market and hence, this will push the market price of gold higher.
