S&P 500/Gold Ratio

Compare the relative value of assets over time

SPX

S&P 500

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XAU

Gold

Current Ratio

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Period Change

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Compare the ratio of

Numerator

Denominator

Period High

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Period Low

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Period Average

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Period Range

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(High − Low)

S&P 500/Gold Ratio

Historical ratio over selected time period

About the S&P 500 to Gold Ratio

What is the S&P 500/Gold ratio?

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.

Why is this ratio important?

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.

Frequently Asked Questions

What is the S&P 500 to gold ratio?

The S&P 500 to gold ratio is the S&P 500 index level divided by the price of one ounce of gold. It shows how many ounces of gold it would take to buy the index, and it is a common way to compare US equities against gold over the long run.

When was the S&P 500 to gold ratio lowest?

The ratio hit major lows around 1980 and again after the 2008 financial crisis and into 2011, both periods when gold sharply outperformed stocks. It then rose through the 2010s equity bull market.