📊 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.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.