Chart of the Day - Thursday, March 13, 2025

• Stocks fell deeper into correction territory today. However, Gold closed at a record high and touched $3,000/oz. for the first time in history.
   

• Gold has been printing all-time highs for over a year, but it was easy to ignore when other assets outperformed. With fewer things working these days, the case for owning gold is getting stronger.
   

• Ricardo points out that Gold is trying to break out versus the median stock. The ratio of Gold versus the Value Line Geometric Index is testing the same level it failed at in 1980, 2009, and 2011. A breakout would likely create FOMO and increase the opportunity cost of not owning Gold. 
   

The Takeaway: Get ready for Gold mania if this ratio breaks out to an all-time high.