While gold has experienced several notable rallies since the United States abandoned the gold standard, including the 1970s inflation-driven surge and the 2008–2011 financial crisis peak, the current price trajectory exhibits distinct characteristics. “That is driving a long-term rise in gold prices — and will continue to do so because each significant increment in gold that is brought to market will be more expensive. The World Gold Council confirms this trend, noting that while gold jewelry consumption dropped 11%, to 1,877 metric tons in 2024, the value of gold jewelry purchases actually increased 9%, to $144 billion, reflecting both higher prices and continued global demand.