What if you invested $1,000 in Gold (GLD) in 2004? (Inflation-Adjusted)
GLD · Commodity · Adjusted to 2026 dollars using BLS CPI-U data
View nominal (non-adjusted) versionA $1,000 investment in Gold (GLD) in 2004 grew to $9,498 in nominal terms. But 2004 dollars had 78% more purchasing power than today. After adjusting for cumulative inflation using BLS CPI-U data, the real value of that growth works out to $5,336 in constant 2004 dollars, equivalent to a +7.8% real annualized return.
Nominal final value
$9,498
+849.8% total return
Real value (2004 dollars)
$5,336
+433.6% real total return
Real annualized return
+7.8%
vs. +10.6% nominal annualized
Year-by-Year (Inflation-Adjusted)
$1,000 in Gold (GLD) since 2004, values in constant 2004 dollars
| Year | Nominal Value | Real Value (2004 $) |
|---|---|---|
| 2004 | $1,000 | $1,000 |
| 2005 | $936 | $904 |
| 2006 | $1,257 | $1,179 |
| 2007 | $1,437 | $1,308 |
| 2008 | $2,026 | $1,775 |
| 2009 | $2,024 | $1,785 |
| 2010 | $2,348 | $2,019 |
| 2011 | $2,878 | $2,377 |
| 2012 | $3,752 | $3,036 |
| 2013 | $3,573 | $2,830 |
| 2014 | $2,662 | $2,078 |
| 2015 | $2,736 | $2,137 |
| 2016 | $2,370 | $1,824 |
| 2017 | $2,561 | $1,928 |
| 2018 | $2,829 | $2,066 |
| 2019 | $2,765 | $1,973 |
| 2020 | $3,310 | $2,324 |
| 2021 | $3,826 | $2,558 |
| 2022 | $3,725 | $2,281 |
| 2023 | $3,976 | $2,346 |
| 2024 | $4,177 | $2,393 |
| 2025 | $5,731 | $3,219 |
| 2026 | $9,861 | $5,540 |
Inflation adjustment uses BLS CPI-U annual data, deflated to 2026 dollars. Nominal stock data from Yahoo Finance (split-adjusted closing prices). Real values are expressed in constant 2004 purchasing-power dollars. For informational and educational purposes only. Not financial advice. Past performance does not guarantee future results. See our methodology and full disclaimer.