Stock correlation with gold

[Clive]

   ?

[Roy]

For much of the period shown in the above chart the average of all three countries stock/gold correlation sat between -0.2 and +0.2 neutral type levels and different countries had differing correlations evident over time.  Periodically however such as the 5 years ending in 1977 and 5 years ending in 2002 all countries stock/gold correlations seem to drop to highly inversely correlated at around the same time.

Thanks, Clive.  What about the correlations of Gold with ordinary (say Intermediate) Bonds over the same period?

Roy