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S&P 500 real terms

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October 24, 2025

By Otavio (Tavi) Costa – X

In gold terms, the S&P 500 is down nearly 30% so far this year.


The decline is about to surpass 2008 as the worst year for the index in gold terms in over two decades.

Yes, most people are pleased with their investments this year, but in real inflation-adjusted terms, the S&P 500 is acting as if the economy were in a deep recession.

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