Gold bulls and those who love charts please take notice.
An event that only happened 3 times in 100 years has happened again in 2025. So it is a rare event and may be a very good sign for a secular bull market for gold or a very bad signal for stocks. The last 3 times this happened was in 1931, 1971 and 2002.
I am talking about the S&P 500/POG ratio which has just fallen below its 10 year moving average. Each time it happened was before or during a major economic crisis. It either resulted in a major secular gold bull market or a massive decline in the sharemarket. The average decline in the ratio was 90% in 1931, 1971 and 2002 (86%, 95% and 89%).
Is it going to happen again?
Nothing is certain in life but in the current environment it won’t be a surprise if it does. Just consider the current situation: major bubbles in stocks, crypto, real estate in USA, private credit and commercial credit plus problems in commercial real estate, the huge debt and government budget deficits around the world and in addition huge imbalances everywhere and Trump trying to upend the world economic system with tariffs.
It’s worth reading the comments to the LinkedIn post as they are good as well. https://www.linkedin.com/posts/tom-bradshaw-msc-b45305b3_gold-the-seismic-shift-thats-on-us-activity-7320113367761760257-lXwR?utm_source=share&utm_medium=member_ios&rcm=ACoAAAnu_8oBH_LDR97FusM_TKJ9kEAUNKSVp7g
Gold bulls and those who love charts please take notice.An event...
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Last
$2.27 |
Change
0.060(2.71%) |
Mkt cap ! $2.909B | |||
| Open | High | Low | Value | Volume |
| $2.23 | $2.27 | $2.20 | $7.331M | 3.278M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 403 | $2.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.27 | 77805 | 7 |
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| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| SPR (ASX) Chart |