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By definition, the golden ration $\phi$ satisfies the equation $\phi^2 = \phi + 1$, and hence the equivalent equation $\phi = 1 + 1/\phi$. This means that $\phi$ is a fixed point of the transformation $x \mapsto 1 + 1/x$.
Here is the result of applying the `fixed-point` procedure to this transformation, starting with a first guess of~$1$: