SPX to Gold/Silver Ratios Explored – What To Expect Next – FX Empire

From 1981 to the peak in 1999 (nearly 18 years), investors shrugged off risk and piled capital into the US and global stock markets as the Reagan, Clinton, and DOT COM rallies ran back-to-back.  The ratio rallied from low levels near 0.30 to high levels near 5.60.  This represents a tremendous increase in the global stock market valuations while precious metals languished in a lower/sideways price range.  Then, in late 1999 and early 2000, the ratio peaked and began to move downward.  That downw…

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