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Gold GBP: historical asset class returns

For MAVENS and MOGULS by The Accumulator on October 20, 2026

Getting a grip on asset class behaviour can be hard when there’s a fire hose of data gushing in from all angles, often from sources unknown, typically quoted in nominal US dollars (USD), and sliced and diced to suit the author’s purposes, not yours.

So today we’ll try to swim against the tide by posting the long-term numbers for gold since 1900 – priced in pounds, fully cited, and accounting for inflation.

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