Gold breaks another record, surpassing the inflation-adjusted peak of 45 years ago

Gold has surpassed its inflation-adjusted peak 45 years ago, extending the strong bull run of the past three years and entering uncharted territory as concerns grow about the outlook for the US economy. Spot gold prices have risen about 5 per cent so far this month and hit a new all-time high of $3,674.27 on Tuesday. Gold has set more than 30 nominal price records since 2025 and the latest rally has broken through the inflation-adjusted peak set on January 21 1980, when the metal hit $850 an ounce. That equates to about $3,590, given decades of consumer price increases - although there are more than one way to adjust for inflation, with some calculations leading to a lower 1980 peak. But analysts and investors agree that gold has now firmly broken through this level, further solidifying its position as a time-honored anti-inflation and anti-currency depreciation tool.