CHART OF THE DAY: The S&P 500 Is Nowhere Near Its All-Time High... Priced In Gold

Earlier today, the S&P 500 crossed its all-time closing high.

Of course, the naysayers will tell you that it's far from its inflation-adjusted high.

And the gold bugs will tell you it's miles away from its gold-adjusted high.

Here's a chart from our friends at PricedInGold.com. It's the S&P 500 priced in grams of gold.

For what it's worth: