Growth of $100, 1971 to 2025
$100 invested at the end of 1971 in each blend, rebalanced every year. The 16 gold blends run from blue (no gold, 60/40) to amber (30% gold, 45/25/30); the purple line is the Permanent Portfolio (equal quarters of stocks, bonds, gold and cash) and the green line is a third each in equities, bonds and gold, with no cash. The two red lines are the gold-dominant portfolios, where gold is the single largest holding (30/30/40 and 20/40/40). Only the sixteen minority-gold blends are shown to begin with; click the greyed legend entries to add the Permanent, one-third, or gold-dominant portfolios. Hover a line for its mix and value.
Source: annual total returns for the S&P 500, ten-year US Treasury bonds, gold and three-month US Treasury bills (cash), Aswath Damodaran, NYU Stern. $100 at year-end 1971 grows to year-end 2025; portfolios rebalanced each year. Past performance over one window is not a forecast.