Gold vs S&P 500
Since Jan 1972, $10,000 in gold grew to $938,913 (8.7% a year) and $10,000 in the S&P 500 to $3,206,696 (11.1% a year). Try your own amount and dates, or add more assets.
Real monthly data through Sep 2026, updated monthly. How we calculate$10,000 put into the S&P 500 in Jan 1996 is now worth
S&P 500 came out on top, ahead of gold, which reached $108,246. Just keeping up with prices needed $21,696, and both did better.
Full results by asset
| Asset | Worth now | Per year | Total return | Worst drop |
|---|---|---|---|---|
| S&P 500 | $213,542 | 10.5% | 2,035% | −49% (Mar 2009) |
| Gold | $108,246 | 8.1% | 982% | −39% (Dec 2015) |
The chart uses a log scale: equal steps up mean equal percentage gains. What each line measures: S&P 500, S&P 500 monthly average level with dividends reinvested (an index fund, before its small fee); Gold, gold monthly average price in US dollars per ounce. Inflation uses the US Consumer Price Index. Monthly averages, data through Sep 2026; no fees or taxes. Past returns do not predict future returns.
Which has done better?
Over the whole period both have data, since Jan 1972, the S&P 500 came out ahead with 11.1% a year against 8.7%. Over the last 10 years the lead went to the S&P 500. Starting dates matter: across all 537 10-year stretches in the data, gold beat the S&P 500 26% of the time.
| Period | Gold | S&P 500 |
|---|---|---|
| Last year | 17.7% | 17.6% |
| Last 5 years | 19.5% | 13.0% |
| Last 10 years | 12.5% | 15.3% |
| Last 20 years | 10.4% | 11.2% |
| Last 30 years | 8.4% | 10.3% |
| Since 1972 | 8.7% | 11.1% |
Yearly return, to Sep 2026. The higher one in each row is green.
Investing a little every month
$100 a month from Sep 2016 to Sep 2026 is 121 buys and $12,100 in total. In gold it would now be worth $29,303; in the S&P 500, $27,585. Monthly buying spreads the entry price, which matters most for the more volatile of the two.
Which is riskier?
The deepest fall from a high was 62% for gold, around Jul 1999, and 49% for the S&P 500, around Mar 2009. Gold asked more patience of its owners. These use monthly averages, so the worst single days were a little deeper.
What the numbers measure
- Gold: gold monthly average price in US dollars per ounce.
- S&P 500: S&P 500 monthly average level with dividends reinvested (an index fund, before its small fee).
No fees or taxes are included. Past returns do not predict future returns.
Common questions
Gold or the S&P 500: which has been the better investment?
Since Jan 1972, the S&P 500 has returned more: 11.1% a year against 8.7% for gold. Over the last 10 years, the S&P 500 came out ahead. Across every 10-year stretch in the data, gold beat the S&P 500 26% of the time, so the answer depends heavily on when you start.
Which is riskier, gold or the S&P 500?
By the deepest fall from a high, gold: gold dropped as much as 62% (around Jul 1999) and the S&P 500 as much as 49% (around Mar 2009), using monthly averages.
How much would $10,000 in gold be worth today?
$10,000 put into gold in Jan 1972 would be worth about $938,913 by Sep 2026. The same money in the S&P 500 would be about $3,206,696. Change the amount and dates in the calculator to see any period.
What if I invested monthly in gold or the S&P 500?
$100 a month from Sep 2016 to Sep 2026 adds up to $12,100. In gold it would now be about $29,303; in the S&P 500, about $27,585.
FatDCA comparisons are educational estimates, not investment, tax or legal advice.
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