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Mining Moves British Columbia

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Part of the Mining Builds British Columbia series presented by the Mining Association of BC.

Mining Moves British Columbia

About Mining Builds British Columbia

Everything used by British Columbians in their everyday lives is either grown or found in the ground. The Mining Builds British Columbia Series covers six essential areas of life where materials derived from mining make a big impact.

How does mining move BC? Without materials such as steel, aluminum, and concrete, it would make everyday transportation much more difficult. Platinum group metals are also essential in the catalytic converters of vehicles, which prevent 4 million tons of harmful emissions in BC per year.

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Mining

Gold vs. S&P 500: Which Has Grown More Over Five Years?

The price of gold has set record highs in 2024, but how has this precious metal performed relative to the S&P 500?

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Gold vs. S&P 500: Which Has Grown More Over Five Years?

This was originally posted on our Voronoi app. Download the app for free on Apple or Android and discover incredible data-driven charts from a variety of trusted sources.

Gold is considered a unique asset due to its enduring value, historical significance, and application in various technologies like computers, spacecraft, and communications equipment.

Commonly regarded as a “safe haven asset”, gold is something investors typically buy to protect themselves during periods of global uncertainty and economic decline.

It is for this reason that gold has performed rather strongly in recent years, and especially in 2024. Persistent inflation combined with multiple wars has driven up demand for gold, helping it set a new all-time high of over $2,400 per ounce.

To put this into perspective, we visualized the performance of gold alongside the S&P 500. See the table below for performance figures as of April 12, 2024.

Asset/Index1 Yr (%)5 Yr (%)
🏆 Gold+16.35+81.65
💼 S&P 500+25.21+76.22

Over the five-year period, gold has climbed an impressive 81.65%, outpacing even the S&P 500.

Get Your Gold at Costco

Perhaps a sign of how high the demand for gold is becoming, wholesale giant Costco is reportedly selling up to $200 million worth of gold bars every month in the United States. The year prior, sales only amounted to $100 million per quarter.

Consumers aren’t the only ones buying gold, either. Central banks around the world have been accumulating gold in very large quantities, likely as a hedge against inflation.

According to the World Gold Council, these institutions bought 1,136 metric tons in 2022, marking the highest level since 1950. Figures for 2023 came in at 1,037 metric tons.

See More Graphics on Gold

If you’re fascinated by gold, be sure to check out more Visual Capitalist content including 200 Years of Global Gold Production, by Country or Ranked: The Largest Gold Reserves by Country.

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