The California Gold Rush began on January 24, 1848, when James W. Marshall found a gold nugget at Sutter's Mill in Coloma, California. John Augustus Sutter and James Marshall tried to keep the discovery a secret, but when President Polk announced the discovery on December 5th of that year, thousands of miners flocked to California in hopes of becoming rich. Here, Taylor Swift sings of the jealousy she feels of being attracted to a good-looking guy who's too in-demand. She is one of many women looking to secure the treasure.

Swift has used the color gold to describe her love for her boyfriend Joe Alwyn on several previous occasions. On Folklore's "Invisible String" she uses the color to tie herself to her romantic partner, but here she uses gold to convey a different emotion: jealousy. Cause I don't like a gold rush, gold rush I don't like anticipatin' my face in a red flush I don't like that anyone would die to feel your touch Everybody wants you The lyric echoes a similar jealous feeling on 2019's "Lover," where Swift worries that she might have competition for Alwyn's hand: I'm highly suspicious that everyone who sees you wants you

Swift recognizes she has to stop fantasizing about the good-looking man as there's too much competition. In realizing she needs to snap out of her daydreaming, the songstress calls back the name of Evermore's sister record, Folklore. My mind turns your life into folklore I can't dare to dream about you anymore This is the only song on either Folklore or Evermore where Swift actually says "folklore."