Yes, it's a completely meaningless and arbitrary comparison but some are asking: can/will the price of gold surpass the value of the S&P?
As BMO chief economist Douglas Porter writes, amid all the recent excitement over the new all-time high for gold prices, spare a thought for the humble S&P 500.
"Fully aware that this is like comparing apples to orangutans, but consider the level of the S&P index to gold prices over the past 30 years.
That has left the S&P about 66% above gold prices now (which of course ignores the fact that central banks have been doing everything they can to boost the "wealth effect" of global stocks while keeping gold prices as low as possible).
Separately, BMO senior economist Sarah Howcroft does not expect gold to surpass the S&P any time soon: While we expect gold and silver to remain well supported over the next 18 months as global monetary conditions remain accommodative, any slight rebound in U.S. yields or the dollar could trigger a modest pullback in prices.