# Fluctuations in Value of Gold and Silver ## Definition The variations in the purchasing power and worth of precious metals over time, caused by changes in mine productivity, discoveries of new sources, and shifts in market conditions. ## Source Chapter Book I, Chapter 5 ## Context Smith discusses how these fluctuations make gold and silver unreliable measures of value, using the discovery of American mines as a key example of how such changes can dramatically affect prices. ## Economic Domain Exchange ---