Gold has shown remarkable performance in 2025, increasing by 13% year-to-date and reaching a new all-time high of approximately $2,980. This surge contrasts sharply with U.S. stock indices, as the S&P 500 and Nasdaq 100 have declined by 6.12% and 10.40%, respectively. Analysts suggest that this trend may indicate a reversal in the outflows of gold, with ETF inflows surpassing three million ounces as of March 12, 2025. Historical patterns of gold performance suggest that the current gold-to-S&P 500 ratio is poised for further gains, reminiscent of previous periods of consolidation between 1935-1972 and 2002-2011. The Dow Jones has also underperformed, down 4.07% this year, further highlighting gold's outperformance against major indices.