Are gold and silver prices adjusted for inflation?

While this is even obvious using the US CPI data as an inflation adjustment, it is spectacularly so when gold and silver prices are adjusted for inflation using the ShadowStats Alternate CPI data, as you will see below from the gold and silver price charts of website GoldChartsRUs.

Is the US dollar gold price still below its real CPI?

The main takeaway from these charts is that even adjusting by the spurious and deliberately understated US Government inflation statistics, the US dollar gold price ( currently at US$ 1830 at the time of writing) is still 66.4% below its real CPI adjusted all time high. Gold prices, inflation adjusted by CPI, from 1950 to end of December 2020.

How is the price of gold deflated?

The series is deflated using the headline Consumer Price Index (CPI) with the most recent month as the base. The current month is updated on an hourly basis with today's latest value. The current price of gold as of May 14, 2024 is $2,338.59 per ounce.