How a 20% gold portfolio fared in the 2022 inflation and rate shock
20% gold tilt: 60% equities · 20% gold · 20% cash · quarterly rebalance · physical costs on (coins) · window 2022-01-03 to 2024-01-19 · computed 2026-07-13 with the same engine the app runs.
Solid: this portfolio, real (CPI-deflated) value of $10,000. Dashed: the all-equity baseline.
| Total return (real) | −5.2% |
|---|---|
| Total return (nominal) | +4.0% |
| CAGR (real) | −2.6% |
| Max drawdown (real) | −21.6% |
| Recovery | not recovered in window |
| Purchasing-power ratio | 0.95× |
| Ulcer index | 12.3 |
| Worst calendar year | 2022: −11.9% |
| Physical costs paid | $162 |
| Liquidation value | $10,336 |
A $10,000 stake in a 20% gold portfolio (60% equities · 20% gold · 20% cash, rebalanced quarterly, physical costs on coins applied) entering the 2022 inflation and rate shock would have ended the window worth $9,485 in real, CPI-deflated terms: a real return of −5.2%. Along the way it fell at most 21.6% from its peak (not recovered in window), with an ulcer index of 12.3. The same stake in equities alone returned −7.9% real. This allocation beat it by 2.8 percentage points of purchasing power. Physical ownership (dealer spread, storage, insurance) cost $162 over the window.
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The link above prefills the allocation. Adjust weights, costs, and windows from there. Sources and formulas: methodology.
Educational estimates, not financial advice