On March 6th 2009, the SPX made its intraday low of 666. Gold on that day was $965. Thus, the S&P 500 bought .69 ounces of gold. Today, At the high of gold intraday today and the low of the S&P’s, the S&P 500 bought .72 ounces. Therefore, in gold terms and/or in REAL terms as opposed to NOMINAL, today’s action in the S&P 500 has us basically back to the March ’09 low.In gold terms, S&P’s back to Mar ’09 low
Friday, 5 August 2011
By Peter Boockvar - August 4th, 2011, 1:45PM
Posted by Britannia Radio at 07:28