By adding that phrase "inflation adjusted" you just rendered your whole point obvious nonsense. It was already nonsense but "inflation adjusted" made it glaring. It is of the same order as "If we had some ham we could have some ham and eggs if we had some eggs."
Would you like to address the point or do you just want to throw around insults?
Gold is an industrial product.. It is also used in many processes. Modern gold production techniques have changed things. Much poorer ores are economical. Production was 400 Metric Tons per year in 1900, 2600 Metric Tons per year in 2000. Think it out for yourself.
Thats 83.5 million new troy ounces of gold per year.
Industrial use of gold is a good part of that. Half the gold ever produced has been produced since 1960.