For The First Time, Gold Returns Surpass Stocks Since March 2009 Lows
Behold - the S&P priced in gold. The current print is below the March 2009 low which simply means that as of today the return for gold since the March 2009 lows is now higher than stocks. Expect this line to keep going lower now that everyone realizes the Fed has no other choices than to print, print, print, further destroying the incremental value of fiat and further cementing the value of non-dilutable instruments like gold.
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