1
: a medieval chemical science and speculative philosophy aiming to achieve the transmutation of the base metals into gold, the discovery of a universal cure for disease, and the discovery of a means of indefinitely prolonging life
2
: a power or process that changes or transforms something in a mysterious or impressive way
… the practitioners of financial alchemy that transformed the world of money in the 1980's …—Gordon Williams
3
: an inexplicable or mysterious transmuting
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Merriam-Webster unabridged
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