As of October 19, 2026, the S&P 500 to gold ratio is 1.86, from the S&P 500 at 7,715.33 and gold at $4,140.61 per troy ounce. Over the past 52 weeks the ratio has ranged from 1.29 to 1.90.
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The S&P 500-to-gold ratio measures how many ounces of gold it takes to buy the S&P 500 index, dividing the index level by the gold price per ounce. It tracks the relative performance of US large-cap equities against gold over the long run.
The ratio fell toward its lows in 1980 and again after 2008 as gold outperformed, then climbed through the 2010s equity bull market. A rising ratio favors stocks over gold, while a falling ratio favors gold, so investors use it to gauge whether financial assets or hard assets are in favor across market cycles. Educational information only, not financial advice.