Chart of the Day - Tuesday, April 1, 2025

🏆 Today's Chart of the Day was shared by Chris Verrone (@verrone_chris).
 

• Gold just booked its best quarter since 1986, rising +19.3% in Q1. It's up again this week after closing higher in 12 of the last 13 weeks, although it closed slightly off its record high today by -0.06%.  
   
• Gold has done twice as well as stocks throughout the current bull market. The S&P 500 is up +45% since the bull market began in October 2022, but Gold is up a whopping +91%. 
   
• This strong and steady uptrend remains intact, but Chris points out that Gold has become historically stretched from its long-term average. He notes that retail flows are surging while price is trading nearly three standard deviations above its 200-day moving average. 
   

The Takeaway: Gold just had its best quarter since 1986. However, the yellow metal is likely due for a pause after becoming historically stretched from its long-term average.