S&P 500 / Gold Ratio: Monthly CSV Download Since 1960

The S&P 500 / Gold ratio is one of the oldest measures of equity valuation relative to real assets. When equities outperform gold, the ratio rises — reflecting confidence in earnings growth and financial assets. When gold outperforms, the ratio falls — signaling distrust in fiat-denominated returns. The ratio peaked in 2000, collapsed through 2011, and has been rising unevenly since. No single CSV hub provides this data — until now.

Dataset: S&P 500 / Gold Price Ratio (1960–2026) · Updated 2026-08-01

Source: Shiller S&P Composite + World Bank Pink Sheet (Gold)

Macro Takeaway

Dataset Overview

Dataset Variables

The CSV and Excel files contain the following columns.

Column names match the CSV headers exactly.

Download the Complete Dataset

The full dataset is available in CSV and Excel formats.

Direct CSV Access — Eco3min Structured Dataset

https://eco3min.fr/dataset/sp500-gold-ratio.csv

This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.

Using the Dataset in Python

import pandas as pd

url = "https://eco3min.fr/dataset/sp500-gold-ratio.csv"
df = pd.read_csv(url, parse_dates=["date"])

print(df.head())
print(df.describe())

Using the Dataset in R

library(readr)

url <- "https://eco3min.fr/dataset/sp500-gold-ratio.csv"
df <- read_csv(url)

head(df)
summary(df)

Both examples load the dataset directly from the URL — no download or API key required.

Methodology

S&P Composite index level divided by the World Bank Pink Sheet monthly gold price. Neither component is resampled from a higher frequency: both are published monthly. The equity value for a given month is Shiller’s average of that month’s daily closing prices, not the month-end close, so a ratio rebuilt from end-of-month quotes will not match this file exactly.

This dataset is updated automatically via the Eco3min data pipeline.

Historical Regimes

Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution.

Related Macroeconomic Datasets

Macroeconomic Dataset Hub

This dataset is part of the Eco3min macro-financial data repository.

Explore the Eco3min Dataset Hub

Sources

• Robert J. Shiller, Irrational Exuberance data, S&P Composite monthly price series (ie_data, column P), shillerdata.com
• World Bank Commodity Price Data (Pink Sheet), gold price in USD per troy ounce

The Shiller workbook is published openly by its author and carries no licence terms restricting reuse, only a disclaimer of warranty. The index levels it contains are facts, not a protected compilation in the sense that would bar this use. It is used here in preference to the FRED series SP500, which is under S&P Dow Jones Indices copyright and cannot be redistributed.

Dataset Reference

Eco3min Research. (2026). S&P 500 / Gold Ratio.<br> https://eco3min.fr/en/sp500-gold-ratio-dataset/