{"id":64306,"date":"2026-05-03T06:34:36","date_gmt":"2026-05-03T06:34:36","guid":{"rendered":"https:\/\/thepatientinvestor.com\/?p=64306"},"modified":"2026-05-03T06:38:32","modified_gmt":"2026-05-03T06:38:32","slug":"sp-500-uptrend-against-gold","status":"publish","type":"post","link":"https:\/\/thepatientinvestor.com\/index.php\/2026\/05\/03\/sp-500-uptrend-against-gold\/","title":{"rendered":"S&#038;P 500 Uptrend Against Gold"},"content":{"rendered":"<h4>Key Points<\/h4>\n<ul>\n<li>The S&amp;P 500 index made a new high at 7230, reversing its long-term downtrend against Gold.<\/li>\n<li>However, the Dow is struggling to break resistance at 50,000.<\/li>\n<li>The ISM Manufacturing PMI indicates the sector is expanding, but producer prices are soaring.<\/li>\n<li>Lithium is in a strong uptrend, while Copper remains rangebound.<\/li>\n<li>Japanese intervention to support the Yen underlines the long-term reason for buying Gold.<\/li>\n<\/ul>\n<hr \/>\n<i>[Content protected for Premium, Australian Growth, International Growth, Market Analysis members only]<\/i>\n&#8230;.. If you are already a subscriber, please log in to continue reading:<\/p>\n<div style=\"width: 400px; max-width: 90%; margin: auto;\"><div class=\"WishListMember_LoginMergeCode\"><div class=\"wlm-ajax-login\"><div class=\"wlm-ajax-login-form\"><form action=\"https:\/\/thepatientinvestor.com\/wp-login.php\" method=\"post\" class=\"wlm_inpageloginform\">\n<input type=\"hidden\" name=\"wlm_redirect_to\" value=\"wishlistmember\" \/>\n<input type=\"hidden\" name=\"redirect_to\" value=\"wishlistmember\" \/>\n<div class=\"wlm3-form\">\n<div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"log\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_log\" type=\"text\" value=\"\"><\/div>\n<div class=\"wlm3-form-group\"><label>Password<\/label><span class=\"wishlist-member-login-password\"><input name=\"pwd\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_pwd\" type=\"password\" value=\"\"><a href=\"#\" class=\"dashicons dashicons-visibility\" aria-hidden=\"true\"><\/a><\/span><\/div>\n\n<div class=\"wlm3-form-group\"><label><input name=\"rememberme\" class=\" form-checkbox fld\" id=\"wlm_form_field_rememberme\" type=\"checkbox\"  value=\"forever\"> Remember Me<\/label><\/div>\n<p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Login\"><\/p>\n\n<p>\n<a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=lostpassword\">Lost your Password?<\/a>\n<\/p>\n<\/div>\n<\/form><\/div><form method=\"post\" action=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=wishlistmember-otl\" class=\"wlm-ajax-login-form-otl\" style=\"display: none;\"><div class=\"wlm-ajax-login-notice -permanent\">Please enter your username or email address. 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You will receive an email message with instructions on how to reset your password.<\/div><div class=\"wlm3-form\"><div class=\"wlm3-form-group\"><label>Username or Email Address<\/label><input name=\"user_login\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_user_login\" type=\"text\" value=\"\"><\/div><p><input name=\"wp-submit\" class=\"\" id=\"wlm_form_field_wp-submit\" type=\"submit\" value=\"Get New Password\"><\/p><input name=\"action\" class=\" wlm3-form-field fld\" id=\"wlm_form_field_action\" type=\"hidden\" value=\"lostpassword\"><p><a href=\"https:\/\/thepatientinvestor.com\/wp-login.php?action=login\">Log in<\/a><\/p><\/div><\/form><\/div><\/div><\/div>\n<p>If you are not a subscriber, to find out more <a href=\"https:\/\/thepatientinvestor.com\/index.php\/subscribe\/\">click here<\/a>\n","protected":false},"excerpt":{"rendered":"<p>Key Points The S&amp;P 500 index made a new high at 7230, reversing its long-term downtrend against Gold. However, the Dow is struggling to break resistance at 50,000. The ISM Manufacturing PMI indicates the sector is expanding, but producer prices are soaring. Lithium is in a strong uptrend, while Copper remains rangebound. Japanese intervention to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/thepatientinvestor.com\/index.php\/2026\/05\/03\/sp-500-uptrend-against-gold\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;S&#038;P 500 Uptrend Against Gold&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[31,4738,44,5342,3761,9,13,4547,34,35],"tags":[69,5056,495,6622,6644,5648,1073,7140,1113,6454,6037,5561,5649,3010,6660,3204,7005,6912],"class_list":["post-64306","post","type-post","status-publish","format-standard","hentry","category-the-fed-banks-interest-rates","category-copper","category-crude-oil-natural-gas","category-cryptocurrency","category-gdp-and-activity","category-gold-precious-metals","category-inflation-economy","category-lithium","category-us-canada-countries-regions","category-us-dollar-index","tag-10-year-treasury-yield","tag-bitcoin-btc","tag-brent-crude","tag-chicago-fed-national-financial-conditions-index","tag-conference-board-consumer-confidence","tag-core-pce-inflation","tag-dollar-index","tag-dow-jones-global-oil-gas-index","tag-dow-jones-industrial-average","tag-ism-manufacturing-prices","tag-ism-manufacturing-employment","tag-ism-manufacturing-pmi","tag-pce-inflation","tag-sp-500","tag-sp-500-gold-ratio","tag-spot-gold","tag-sprott-copper-miners-etf-copp","tag-sprott-lithium-miners-etf-litp"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>S&amp;P 500 Uptrend Against Gold - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"S&amp;P 500 Uptrend Against Gold - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Key Points The S&amp;P 500 index made a new high at 7230, reversing its long-term downtrend against Gold. However, the Dow is struggling to break resistance at 50,000. The ISM Manufacturing PMI indicates the sector is expanding, but producer prices are soaring. Lithium is in a strong uptrend, while Copper remains rangebound. 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He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.","sameAs":["https:\/\/facebook.com\/people\/The-Patient-Investor\/61572934660810\/","https:\/\/www.instagram.com\/colin_thepatientinvestor","https:\/\/au.linkedin.com\/in\/colintwiggs"],"url":"https:\/\/thepatientinvestor.com\/index.php\/author\/investor\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9tQ4n-gJc","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":63326,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/12\/02\/tight-liquidity-and-rising-bond-yields-weigh-on-stocks\/","url_meta":{"origin":64306,"position":0},"title":"Tight liquidity and rising bond yields weigh on stocks","author":"Colin Twiggs","date":"December 2, 2025","format":false,"excerpt":"Key Points Selling pressure on the S&P 500 has increased as liquidity tightens. Ten-year Treasury yields are also rising amid growing pressure on Japanese bond markets. The ISM Manufacturing PMI declined to 48.2% as the sector continues its long-term contraction. Gold and silver are testing support, but remain in a\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Bitcoin (BTC)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-01-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63565,"url":"https:\/\/thepatientinvestor.com\/index.php\/2026\/02\/05\/bitcoin-plunge-signals-risk-off\/","url_meta":{"origin":64306,"position":1},"title":"Bitcoin Plunge Signals Risk-Off","author":"Colin Twiggs","date":"February 5, 2026","format":false,"excerpt":"Key Points Bitcoin plunged to $71,200, warning that financial markets are becoming risk-averse. Brent crude surged to nearly $70 per barrel amid heightened US-Iran tensions. Volatility following the CME margin hike, effective Monday, triggered a broad selloff in precious metals and energy transition metals. Bitcoin2 (BTC) broke support at 85,000,\u2026","rel":"","context":"In &quot;Cryptocurrency&quot;","block_context":{"text":"Cryptocurrency","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/forex\/cryptocurrency\/"},"img":{"alt_text":"Bitcoin (BTC)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-04-btc.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-04-btc.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2026\/2026-02-04-btc.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":63338,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/12\/04\/the-real-risk-of-a-fed-rate-cut\/","url_meta":{"origin":64306,"position":2},"title":"The real risk of a Fed rate cut","author":"Colin Twiggs","date":"December 4, 2025","format":false,"excerpt":"Key Points ADP National Employment Report estimates that the private sector shed 32,000 jobs in November. Traders are pricing in an 89% chance of a 25-basis-point rate cut by the Fed on December 10. ISM Manufacturing and Services PMI shows inflation is not yet under control. A rate cut will\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"ADP Private Sector Jobs","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-03-adp-national.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-03-adp-national.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-03-adp-national.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-12-03-adp-national.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":61311,"url":"https:\/\/thepatientinvestor.com\/index.php\/2025\/03\/04\/markets-risk-off-response-to-new-tariffs\/","url_meta":{"origin":64306,"position":3},"title":"Market&#8217;s risk-off response to new tariffs","author":"Colin Twiggs","date":"March 4, 2025","format":false,"excerpt":"Financial markets swung to risk-off as the Trump administration announced tariffs on Canada and Mexico. Mexico and Canada face tariffs of 25%, with 10% for Canadian energy. Canada announced it would retaliate immediately, imposing 25% tariffs on US imports worth C$30bn (\u00a316.3bn). It added that the tariffs would be extended\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"S&P 500","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-03-spx.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-03-spx.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2025\/2025-03-03-spx.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":59057,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/11\/06\/trump-comeback\/","url_meta":{"origin":64306,"position":4},"title":"Trump comeback","author":"Colin Twiggs","date":"November 6, 2024","format":false,"excerpt":"According to pundits from The Hill, former President Donald Trump is projected to win the popular vote and sweep the electoral college. That would complete a comeback last achieved 120 years ago by President Grover Cleveland. There is unlikely to be much short-term effect on financial markets, but the long-term\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Trump versus Harris","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-11-04-harris-trump2.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-11-04-harris-trump2.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-11-04-harris-trump2.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":57291,"url":"https:\/\/thepatientinvestor.com\/index.php\/2024\/09\/04\/nvidia-leads-the-plunge\/","url_meta":{"origin":64306,"position":5},"title":"Nvidia leads the plunge","author":"Colin Twiggs","date":"September 4, 2024","format":false,"excerpt":"Stocks plunged after Nvidia (NVDA) fell by 9.5% on reports that the US Department of Justice subpoenaed the chipmaker over complaints that it is violating antitrust laws. (Quartz) Weak US and China manufacturing activity has also been cited as a cause for market bearishness, but that seems unlikely. Stocks Selling\u2026","rel":"","context":"In &quot;Banks &amp; Interest Rates&quot;","block_context":{"text":"Banks &amp; Interest Rates","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/the-fed-banks-interest-rates\/"},"img":{"alt_text":"Top 7 Technology Stocks","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-04-big7.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-04-big7.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2024\/2024-09-04-big7.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=64306"}],"version-history":[{"count":3,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64306\/revisions"}],"predecessor-version":[{"id":64309,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/64306\/revisions\/64309"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=64306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=64306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=64306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}