Since so many gold bulls like to look at stocks when priced in gold, we figure we can do the opposite: Look at gold when priced in stocks.
And as you can see, it’s not pretty (and getting worse today) for gold. Since the peak in August, we’ve seen a series of rallies to lower and lower highs each time.
Just a perspective that we wanted to bring to your attention. Take from it what you will.
Bear in mind that we’re looking at the GLD etf and the SPY ETF, which isn’t exactly a perfect analogy, but pretty close.
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