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Chart of the Day
Despite the stock markets lackluster performance over the past few trading sessions, 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 19.2 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!
Notes:
- Should you be investing in gold, stocks, or gold stocks. The answers may surprise you. Find out now with the exclusive charts of Chart of the Day Plus.
Source - Dow Jones
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Quote of the Day
"The desire for gold is the most universal and deeply rooted commercial instinct of the human race." - Gerald M. Loeb
Events of the Day
October 08, 2007 - Columbus Day (observed)
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