Equities-Gold Trends; Implications of High Energy Costs in Europe, Asia Sep 29, 2022 View in your browser Equities-Gold Trends Amid Inflation; High Natural Gas Costs By Blu Putnam, Chief Economist Erik Norland, Senior Economist CME Group Equities-Gold Trends Equities are up 221-fold over the past century in U.S. dollar terms Over the same period, the U.S. dollar has slumped by 99% relative to gold Gold and equities have had similar price returns relative to the U.S. dollar Equity valuations remain historically high despite recent slide in stocks Read article Implications of High Natural Gas Costs Benchmark natural gas prices are multiple times higher than in the U.S. High prices could lead to higher-than-planned budget deficits and winter heating bills Also could elevate prices for greenhouse crops such as cucumbers, tomatoes Higher natural gas prices could spur investments toward energy independence Watch video SEE MORE ANNOUNCEMENTS