A new record for high-finesse silica waveguide ring resonators (WRRs), to the best of our knowledge, is demonstrated experimentally. The achieved finesse and resonant depths of the silica WRR with a length of 7.9 cm and a diameter of 2.5 cm are 196.7% and 98%, respectively. In addition, the silica WRR chip is coupled with single-polarization fiber to improve the polarization extinction ratio (PER) and, thus, to reduce the polarization error. With the application of this high-finesse and high-PER WRR to the resonant micro-optic gyroscope (RMOG), a bias stability of 0.004°/s is observed over a 1 h timeframe. To the best of our knowledge, this is the first RMOG reported in the open literature that can sense the earth's rotation rate (15°/h).