Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-5

So if gold and silver’s purchasing power doesn’t actually go up - gold and silver prices “increasing” against a fiat currency represents the value of that fiat currency going DOWN.Here is the link to the above mentioned article:
https://nextinvestors.com/articles/ttm-we-will-tackle-the-gold-gina-you-get-to-the-copper/

If any punters here want to learn more about gold and silver, you should also check out today's article.
https://nextinvestors.com/articles/understanding-gold-and-silver-what-weve-learned/
TTM and KAU are mentioned in this week's commentar. Side note: I hold both.
There is also the possibility to download the ebook "What we have learned about gold and silver".

In the article they point to Ray Dalio (Founder of the world's largest hedge fund, Bridgewater Associates) and you can also see some long and short videos to understand his opinion on this. So take some time to read and listen.
The bottom line in the article is to understand:
1. The price of gold or silver doesn’t actually “go up” technically.
The whole point is that gold and silver’s purchasing power stays the same over time (safe haven assets).
They need to be looked at and valued against a specific fiat currency. It’s just the amount of US dollars or Euros, or Aussie dollars it takes to buy an ounce of precious metal that changes over time.
2. So if gold and silver’s purchasing power doesn’t actually go up - gold and silver prices “increasing” against a fiat currency represents the value of that fiat currency going DOWN.
And the more fiat currency that is printed by its government, the more of it it takes to buy an ounce of precious metal.Printing more fiat currency by governments is usually a result of funding wars or to tackle spiralling national debt.

I have to admit that I haven't seen it myself from this point of view. But there's a lot to it, isn't there?
So good luck all investors here and greetings from Germany.