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# Gold Price Variation

## Definition

The changes over time in the value of gold relative to silver and other commodities. These variations are influenced by the relative abundance of gold and silver mines and the different uses to which the metals are put.

## Source Chapter

Book I, Chapter 11

## Context

Smith examines how the relative values of gold and silver have changed over time, particularly after the discovery of American mines, and how this affects their use in different economic functions.

## Economic Domain

Exchange

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