Gold just did something that it hasn't done since 1980

Core Insights - Gold has achieved 37 record closes in 2023, marking its best annual performance since 1979, outperforming U.S. equity benchmarks like the S&P 500 and Nasdaq Composite, which recorded 28 and 19 respectively [1] - Recently, gold broke its inflation-adjusted record from January 1980, indicating a significant increase in value due to geopolitical uncertainty and concerns about the U.S. dollar [2][3] Market Performance - Continuous Gold Contracts rose by 0.58% to $3,796.90, achieving an intraday record [3] - The SPDR Gold Shares (GLD) ETF experienced a record inflow of $2.2 billion, the largest single-day inflow in its 21-year history, contributing to over $12.9 billion in net inflows this year [4][5] Investor Sentiment - Institutional investors and hedge funds have heavily invested in gold, pushing the relative strength index of gold ETFs into "overbought" territory, yet analysts predict continued rallying due to global uncertainty and lower interest rates [6][7]