Gold Surpasses Inflation-Adjusted Record High Set in 1980

Gold has eclipsed its inflation-adjusted peak set more than 45 years ago, as growing anxiety about the US’s economic trajectory takes bullion’s blistering three-year bull run deeper into uncharted territory.

The spot price of gold has surged about 5% so far this month, with prices hitting an all-time high of $3,674.27 an ounce on Tuesday. It’s set more than 30 nominal records already in 2025, but the latest leg of the rally has also taken it through an inflation-adjusted peak set on Jan. 21, 1980, when prices topped out at $850.