My 2 minute research result:
2003 gold price 500 aussie
2023. 2700 aussie
2043. 4900 aussie
(So basically only adjusting for inflation)
The graph in Aud is actually quite straight the last 20 years. Not exponential!!
As you insinuate, the value increase will be mainly in the extra discoveries and "producer rerate" not so much the gold price.
Barrick Gold eyes De Grey Mining, page-129
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