Outstanding mathematical ability is a precious societal resource, sorely needed to maintain leadership in a technological world. The NCTM Standards do not mention gifted students explicitly but recognize that students are not all the same. For all students, the Standards place a greater emphasis on areas that traditionally have been emphasized for the gifted. All students are now expected to complete a core curriculum that has shifted its emphasis away from computation and routine problem practice toward reasoning, real-world problem solving, communication, and connections. Historically there has been debate about the role of acceleration versus enrichment as the differentiation mode for mathematics.
Most experts recommend a combination.
These opportunities should be made broadly available to any student with interest in taking advantage of them. In the elementary grades, gifted learners still need to know their basic facts. If they do not, don't hold them back from other more complex tasks, but continue to work concurrently on the basics. Ask students to explain their reasoning both orally and in writing. Choose textbooks that provide more enriched opportunities.