If you had invested $10,000 in gold 20 years ago (around 2005), when gold traded near $445 per ounce, your investment would be worth roughly $76,000 today, representing a gain of about 662%. That works out to an average annual return of approximately 10.9%.
Adjusted for inflation, the real return drops to around 6.7% per year, still a solid long-term result. Gold rewarded patient investors, but the ride was bumpy, with down years mixed in.
It outpaced inflation handily, though a broad stock index fund over the same period would have delivered comparable or higher returns.