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Chart of the Day
Despite today's lackluster performance, the Dow still trades near all-time highs. For some further perspective into the current rally, today's chart presents the Dow divided by the price of one ounce of gold. This results in what is referred to as the Dow / gold ratio or the cost of the Dow in ounces of gold. For example, it currently takes 19.4 ounces of gold to “buy the Dow.” This is considerably less that the 44.8 ounces back in the year 1999. When priced in gold, the current stock market rally hasn't amounted to much. In fact, the longer-term trend is actually down! Stay tuned…
Notes:
- Should you be investing in gold, stocks, or gold stocks. Find out now with the exclusive charts of Chart of the Day Plus.
Source - Dow Jones
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Quote of the Day
"Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium." - Murray N. Rothbard
Events of the Day
May 13, 2007 - Mother's Day
May 16, 2007 - Cannes Film Festival begins (ends May 27th)
May 19, 2007 - Preakness Stakes
May 20, 2007 - Armed Forces Day
May 21, 2007 - Victoria Day (Canada)
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