Gold has significantly outperformed the S&P 500 this century

Gold has delivered substantially stronger performance than the S&P 500 on a total-return basis so far this century, even when stock-market dividends are included in the comparison.
The relative performance highlights gold's strong long-term run through periods of monetary expansion, financial crises, inflation shocks and geopolitical uncertainty.
The comparison also illustrates how dramatically leadership can shift between financial assets over multi-decade horizons.