Beta Breakdown vs. Gold May Be What Matters - The S&P 500 (SPX), equal to 1.37 ounces of gold on Feb. 11, has dropped below the key 1.54 pivot set in 1929. The metal's greatest premium vs. its 60-month moving average since 1980, along with buried stock-market volatility, highlights rapidly rising gold doing most of the heavy lifting in pulling the SPX/gold ratio lower. How sustainable is this path? Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/taceuckgifqq {BI COMD} #gold #stockmarket @markets(Mike McGlone)