Have a look at Required Yield Theory. It states the price of gold varies inversely to the US stock market P/E proving that it is a store of wealth. Zero Hedge brought it up recently:
http://www.zerohedge.com/article/presenting-scientific-theory-fair-value-gold-88-accuracy
Unfortunately the only graphs I have seen have been up to 2005. I should look into the history of S&P 500 P/E but noticed that S&P no longer provide it on their website (since Oct last year).
Add to My Watchlist
What is My Watchlist?