According to SentimenTrader, the price of gold may finally be unleashed higher according to a major signal indicator.

A Golden Launch?
October 24 (
King World News) –
Here is a portion of a report SentimenTrader just put out a report on gold:  Gold/S&P Ratio flips to favor gold.

Key points

  • One iteration of the Gold/S&P 500 Ratio just tipped favorably for gold
  • Is it time to load up on the yellow metal?
  • To answer that question, the discussion below reviews the history of this indicator

The History of the Gold/S&P 500 Ratio
The Gold/S&P 500 Ratio (Gold/SPX Ratio) is derived by dividing the weekly closing price for gold by the weekly closing price for the S&P 500 Index. The chart below displays the Gold/S&P 500 Ratio since 1975. Comparing the weekly reading to the 200-week moving average creates a long-term trend-following indicator.

Interpretation is relatively simple:

  • When the ratio is above the 200-week moving average, the indicator is considered favorable for gold
  • When the ratio is below the 200-week moving average, the indicator is considered unfavorable for gold

Note that as of the close on 2023-10-20, the Gold/SPX Ratio had once again closed back above the 200-week moving average. As a result, this indicator is once again deemed favorable for gold bullion.

The chart below displays the Gold/SPX Ratio since 1975 and includes the 200-week moving average of weekly ratio readings.

The chart below zooms in on the 2000-present period.

The chart below zooms in on roughly the last eight years of history.

To continue reading the rest of the report you must be a subscriber of the fantastic work that Jason Goepfert and his team produce at SentimenTrader. To subscribe CLICK HERE.

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