Has the S&P 500 really doubled since 2023? Chris Wood says it is down 21% in gold terms

The S&P 500 has more than doubled in value since early 2023, but according to Chris Wood, this impressive gain is not as strong as it seems when measured against the price of gold. In fact, the S&P 500 has actually fallen by 21% relative to gold over the same period. This divergence highlights the potential risks of relying on dollar-based metrics to gauge market performance.

Why it matters

The S&P 500 has doubled in dollar terms since 2023, but its value in gold terms has fallen. This suggests that the index's gains may be due to inflation or currency fluctuations rather than real economic growth.

Market impact

Markets & countries in focus

Transmission channels

Likely winners & losers

Explore the intelligence

MeridStreet does not reproduce source articles. The summary and analysis above are generated by MeridStreet from public headlines and its own market model; the original reporting belongs to Economic Times. For information only — not financial advice.