/ Dictionary / Index G gray market: Meaning and Definition of Find definitions for: gray' mar'ket Pronunciation: [key] a market operating within the law but charging prices substantially below list prices or those fixed by an official agency. Cf. black market. Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease. gray manganese ore gray matter Related Content Daily Word Quiz: penchant Analogy of the Day: Today’s Analogy Spelling Bee: Today’s Spelling Bee Frequently Misspelled Words Frequently Mispronounced Words Easily Confused Words Writing & Language