|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 9.8 ounces of gold to “buy the Dow.” This is considerably less that the 44.8 ounces it took back in 1999. When priced in gold, the US stock market has been in a bear market for the entire 21st century and is currently trading 78% off its 1999 highs. The recent five-month rally, however, has the Dow (priced in gold) putting in a significant test of resistance of an accelerated downtrend that began in mid-2007.Notes:
- Where's the market headed? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.
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Quote of the Day"The modern mind dislikes gold because it blurts out unpleasant truths." - Joseph Schumpeter
Events of the DayAugust 10, 2009 - PGA Championship begins (ends August 16th)
Stocks of the Day-- Find out which stocks investors are focused on with the most active stocks today.
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