What was the temporal cost and cognitive burden of holding gold?

If silver:

• Spent ~8–10 years chopping

• Then repriced sharply near the end

Your annualized return over the entire holding period might only look like:

• ~8–12% annualized (depending on entry)

• With very high volatility

• And zero cash flow

That’s not bad — but it’s not exceptional given the opportunity cost.

Silver is not a time-efficient asset.

It is a temporal option.