According to The Kobeissi Letter, gold prices have outperformed the S&P 500 by 32.6 percentage points year-to-date, marking the most significant lead since at least 1975 (source: The Kobeissi Letter, April 27, 2025). This performance surpasses the previous record of approximately 26.0 percentage points set in 2020. For traders, this historic outperformance signals strong momentum in gold markets relative to equities, suggesting a rotation of capital towards safe-haven assets. Investors should monitor gold’s technical support levels and consider its role in portfolio diversification amid ongoing market volatility.