{"id":499976,"date":"2021-06-24T11:37:58","date_gmt":"2021-06-24T15:37:58","guid":{"rendered":"https:\/\/goldtadise.com\/?p=499976"},"modified":"2021-06-24T12:35:11","modified_gmt":"2021-06-24T16:35:11","slug":"us-stocks-vs-gold","status":"publish","type":"post","link":"https:\/\/goldtadise.com\/?p=499976","title":{"rendered":"US stocks vs gold"},"content":{"rendered":"

It’s hard to believe, but the Nasdaq has continued to make higher highs vs gold for the last decade.\u00a0 Even after the Covid crash, gold has failed to outperform the Nasdaq, and the Nasdaq actually made a higher high vs gold after the Covid crash.<\/p>\n

The S&P vs gold ($spx:gld) hasn’t done quite as well, but it is on the cusp of breaking out to multiyear highs, as seen below.\u00a0 Perhaps it forms a double top with the April 2021 peak if we are lucky?\u00a0 But I wouldn’t count on it.<\/p>\n

After the Covid-crash, it looked like gold’s long term trajectory vs the US stock market was set, but that initial impression was completely off base.\u00a0 It is pretty clear that US stocks will nominally outperform gold until a complete collapse occurs.\u00a0 But who knows when that will happen, as the Fed and world central banks have managed to kick the can down the road for decades now.\u00a0 It seems all excess liquidity will continue to flow strongly into US stocks.\u00a0 On a risk-adjusted basis, the comparison is even more in favor of US stocks, especially the mega-tech stocks which now have monopoly positions thanks to cheap money.<\/p>\n

To me, it is unbelievable (and rather depressing) that the monetary metals have performed so poorly on a relative basis.\u00a0 Every time I think “this time is different”–it isn’t.\u00a0 Look at the scoreboard.<\/p>\n

[Eh, maybe I am being a little too negative here, and my frustration is a contrary indicator.\u00a0 But just look at that post-Covid crash rally in the stock market vs gold.\u00a0 I mean, what the actual? lol.]<\/p>\n

\"\"<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It’s hard to believe, but the Nasdaq has continued to make higher highs vs gold for the last decade.\u00a0 Even after the Covid crash, gold has failed to outperform the Nasdaq, and the Nasdaq actually made a higher high vs … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2917,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-499976","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/499976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/users\/2917"}],"replies":[{"embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=499976"}],"version-history":[{"count":0,"href":"https:\/\/goldtadise.com\/index.php?rest_route=\/wp\/v2\/posts\/499976\/revisions"}],"wp:attachment":[{"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=499976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=499976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldtadise.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=499976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}