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BREAKING: The S&P 500 measured in ounces of gold is down to 1.39, the lowest since 2014.
This ratio has fallen -1.26, or -48%, since 2022 as gold prices have outperformed the index.
Over this time, gold prices have rallied +180% while the S&P 500 has gained +45%.
Historically, every time this ratio has fallen below 1.5, market volatility increased materially.
Gold can see the future.