re: PSA - Gold and Silver at Spot Price

Don’t know about 50, here’s 53.

When Nixon announced that the USA was no longer redeeming gold for dollars on 15 August, 1971, the government had been exchanging gold for dollars at $35.00 an ounce and the LBMA price of gold was approximately $43.00. As of 11 May, 2024, the current market price of gold is approximately $2,365.00 an ounce.
Over this period using the LBMA price of gold, it has compounded annually at a rate of :
(2,365÷43.00)^(1÷52.737704918) = 1.0789475903 or compounded at approximately 7.89% per annum for approximately 52.74 years as of 11 May, 2024, or to state it another way, the dollar has lost (1-(43.00÷2,365.00)) = .9818181818 or approximately 98.18% of its value against gold.

A compounded annual rate of approximately 7.89% for approximately 52.74 years is not too bad for a pet rock or a barbarous relic.

Future value is more likely to be impacted by the fact that for every 1 oz gold held by humans, above ground, Wall Street and others have sold 400 oz of ‘paper gold’, contracts for gold which ‘we promise is underground and we promise we will get it out for you and we promise we can do that at a profit’. Sooner or later there will be a divergence between real gold and this ‘bitcoin gold’. Even when we KNOW where gold is, such as the enormous find in Alaska, that doesn’t mean it’s available. Pebble Mine is and will be dead for decades.