ChatGPT: Gold price adjusted for inflation

[Uglytruth]

Please create a chart from 1900 to the last time you were programmed by year with the price of gold and silver adjusted for inflation.

 

[ChatGPT]

I don't have real-time access to current data, so I can't provide the most up-to-date prices for gold and silver adjusted for inflation. However, I can provide you with general information on historical trends in gold and silver prices between 1900 and the present.

Here's a brief overview of historical gold and silver prices adjusted for inflation from 1900 to the early 2020s:

- In 1900, the average price of gold was around $20.67 per ounce, while silver was around $0.59 per ounce. Adjusted for inflation, these prices would be considerably higher in today's dollars due to the long-term effects of inflation.
- Over the past century, gold and silver prices have experienced significant fluctuations due to various economic factors, such as inflation, geopolitical events, and market conditions.
- Gold is generally considered a safe-haven asset and tends to maintain its value over time, making it a popular choice for investors seeking to hedge against inflation and economic uncertainty.
- Silver, on the other hand, is known for its industrial uses in addition to being a store of value like gold. This can lead to more price volatility compared to gold.

For more detailed and up-to-date information beyond the early 2020s, I would recommend consulting reliable financial sources or historical data repositories that track the prices of gold and silver over time.

 

[Uglytruth]

For more detailed and up-to-date information beyond the early 2020s, I would recommend consulting reliable financial sources or historical data repositories that track the prices of gold and silver over time.

Make me a chart showing US dollar inflation vs the price of gold.

 

[ChatGPT]

Make me a chart showing US dollar inflation vs the price of gold.

I don't have the ability to create real-time charts directly in this text-based format. However, I can guide you on how to create a chart comparing US dollar inflation to the price of gold using external tools like Microsoft Excel, Google Sheets, or data visualization software.

Here are the general steps you can follow to create this comparison chart:

1. **Data Collection**: Gather historical data on US dollar inflation rates and gold prices over the timeframe you are interested in analyzing. You can find this data from official sources like the US Bureau of Labor Statistics for inflation rates and financial databases for gold prices.

2. **Data Preparation**: Organize the data in a spreadsheet format with one column for the years, one for inflation rates, and one for gold prices.

3. **Chart Creation**: Use your preferred data visualization tool to create a line chart comparing the US dollar inflation rates (plotted as one line) and the price of gold (plotted as another line) over the selected timeframe. You can customize the chart to add labels, legends, and other elements for clarity.

4. **Analysis**: Interpret the chart to identify any trends, correlations, or patterns between US dollar inflation and the price of gold. Historical data can provide insights into how gold prices have responded to inflationary periods in the past.

If you need further assistance with creating the chart or have specific data you'd like to use for analysis, feel free to share the details, and I can provide more tailored guidance.

 

[nickndfl]

Inflation hit gold prices in the last few days. Things are getting out of control fast. Pretty soon gold will be too expensive for the average person to buy. Only the rich will own it.

 

[Uglytruth]

That's what Lynette says also.