A look at the gold price vs the S&P 500 | $GLD $SPY $ES_F
|PURPLE line is GC Overlay of |
SPX on a weekly time frame
The price of gold has not converged with the price of the S&P 500 (SPX) since 4/26/2010 and it was not until 2/18/2013 (SPX made 5 year highs 1530.94 this day) where the price of GOLD was just 23.36 points away from convergence with the SPX. The price has diverged 75 points since last wednesday..
On 4/26/2010 the SPX price was 1219.80 and the SPX fell to 1010.91 on 6/28/2010 following the FLASH CRASH turmoil.
|Weekly ES_F with GC overlay|
|Weekly SPX zoom with GC overlay .. PURPLE line over SPX price is GC|