📊 Key insight
-Every major equity drawdown coincides with a drop in the SPX/Gold ratio — meaning gold outperforms stocks.
📉 What the chart shows
-1973–74 (stagflation): deep S&P 500 drawdown, SPX/Gold collapses.
-2000–02 (tech bust): ratio peaks ~5, then trends lower as gold rises and equities fall.
-2008–11 (GFC): brief liquidity hit to gold, then SPX/Gold plunges as gold rallies.
-2020 (COVID shock): rapid drop in SPX/Gold during equity sell-off.
-2022 bear market: ratio turns down again with inflation and rate stress.
Why it happens
-During market stress, investors seek safe collateral → gold demand spikes.
-Real rates and recession fears hurt equities more than gold.
-Silver carries industrial exposure, gold acts as a true safe haven.
🛡️ How to use it
-A gold allocation helps hedge against equity drawdowns.
-Long
GOLD / short 
SPX (ratio trade) historically reduces portfolio volatility.
-Note: gold can dip during initial liquidity shocks (e.g., 2008, Mar 2020) — but recovers faster than equities.
-Every major equity drawdown coincides with a drop in the SPX/Gold ratio — meaning gold outperforms stocks.
📉 What the chart shows
-1973–74 (stagflation): deep S&P 500 drawdown, SPX/Gold collapses.
-2000–02 (tech bust): ratio peaks ~5, then trends lower as gold rises and equities fall.
-2008–11 (GFC): brief liquidity hit to gold, then SPX/Gold plunges as gold rallies.
-2020 (COVID shock): rapid drop in SPX/Gold during equity sell-off.
-2022 bear market: ratio turns down again with inflation and rate stress.
Why it happens
-During market stress, investors seek safe collateral → gold demand spikes.
-Real rates and recession fears hurt equities more than gold.
-Silver carries industrial exposure, gold acts as a true safe haven.
🛡️ How to use it
-A gold allocation helps hedge against equity drawdowns.
-Long
GOLD / short SPX (ratio trade) historically reduces portfolio volatility.-Note: gold can dip during initial liquidity shocks (e.g., 2008, Mar 2020) — but recovers faster than equities.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.