S&P 500 in Gold Terms
See the stock market's real performance measured in money, not Federal Reserve Notes.
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What This Shows
This chart shows the S&P 500 rebased to 100 at the start, allowing you to compare performance in different units. When measured in gold, you see the real return of stocks—what your purchasing power actually did.
The Insight
Notice how stocks look very different when measured in gold vs FRN. The nominal “gains” in dollars often disappear when measured in real money. This reveals how much of stock market “growth” is actually just currency debasement.
Data: FRED SP500 (monthly), Gold/Silver from freegoldapi.com. Values rebased to 100 at start.