Gold prices have surpassed their inflation-adjusted peak of 45 years ago, extending their three-year bull run into uncharted territory as market concerns about the US economic outlook intensify. Spot gold prices have risen about 5% so far this month, reaching a new all-time high of $3,674.27 on Tuesday. Gold has set more than 30 nominal price records since 2025, with the latest surge surpassing the previous inflation-adjusted high of $850 per ounce reached on January 21, 1980. Taking into account decades of consumer price increases, this price translates to about $3,590. While there are multiple ways to adjust for inflation, some calculations yield a lower 1980 peak. Analysts and investors agree that gold has now firmly surpassed this level, further solidifying its status as a time-tested hedge against inflation and currency devaluation. (Jinshi)