Gold vs the S&P 500 (GLD): is it outperforming?
Over the past month, GLD has outperformed the S&P 500 by 6.9 points. Here is where that puts it in the market rotation — updated daily.
Where GLD sits on the rotation map
Gold highlighted against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window — the methodology explains the math.
GLD vs SPY: head-to-head returns
GLD (gold) and SPY (the S&P 500) side by side over every window Zensei tracks. The spread is the difference — positive means GLD won that window.
Data as of 2026-08-28 · computed from daily adjusted closes · how we measure
The read
Gold (GLD) has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 9.6 points, but over the past month it has moved decisively ahead of the market — a 6.9-point edge that puts it in the Emerging quadrant. Ranked by one-month spread, it currently stands #25 of the 115 groups Zensei tracks.
On the shorter tape, GLD's momentum is mixed: the longer intraday trend is still positive, but the recent windows have gone flat. GLD's relative-strength line has dropped below its moving averages — the outperformance trend is fading. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The thing to watch from here is confirmation: emerging groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
Gold vs the market — common questions
Is gold outperforming the S&P 500?
Right now, yes: over the past month GLD has outperformed the S&P 500 by 6.9 points. This page updates daily, so the answer reflects current market data rather than a dated article.
What is GLD?
GLD is SPDR Gold Shares, the fund Zensei uses to measure the gold group against the S&P 500 benchmark (SPY).
What quadrant is gold in right now?
As of the latest daily data, gold is in the Emerging quadrant — behind the market over the longer window, but ahead over the past month. The quadrant rules are documented on the Zensei methodology page.
Related sectors
Track gold against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.