The chart is showing you how many ounces of gold it takes to buy 1 share of the S&P500.
I'm using SP500 as a proxy to show the likelihood of Gold outperforming the stock indexes.
In calendar year 2023 there have been 6 failed breakout attempts for SP500 which is tilting the probability in favour of gold outperforming stocks.
The chart is showing you how many ounces of gold it takes to buy...
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