In May I recommended that gold bugs think about buying stocks for gold to enjoy the bullish momentum on the market. This call paid well as S&P 500 index almost gained 6 grams of gold (10%) since then.
In terms of dollars, the index did even better by hitting the projected target of $2650 set in the May chart. Back in those days the S&P 500 was flirting with the $2400 mark, and the target level looked so distant then.
In this post, I will update the S&P 500/Gold ratio chart and see if there is more room to the upside.
Chart 1. S&P 500 Monthly In Grams Of Gold
Chart courtesy of tradingview.com
Continue reading "S&P 500 Vs. Gold: Someone's Gain, Someone's Pain"