Wednesday, April 25, 2012

S&P to Gold Ratio

Below is a longer term chart of the ratio of the price of the S&P 500 to the GLD ETF (the data source I'm working from doesn't have the physical gold price).  It shows that despite the S&P rally since October and the pullback in gold, the "currency agnostic" value of the S&P (priced in gold) is still below where it was this time last year.

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