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Friday, April 04, 2008 12:54:43 PM
COTD - Chart of the Day - 4/4/08
http://www.chartoftheday.com:80/20080404.htm?T
Is the stock market performing well? It all depends on how you measure. When measured in US dollars, the Dow currently trades approximately 11% off its all-time record highs. However, when measured with that other world currency (gold), the picture is more bleak. To help illustrate the point, 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 14 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 21st century US stock market remains in one big bear market.
http://www.chartoftheday.com:80/20080404.htm?T
Is the stock market performing well? It all depends on how you measure. When measured in US dollars, the Dow currently trades approximately 11% off its all-time record highs. However, when measured with that other world currency (gold), the picture is more bleak. To help illustrate the point, 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 14 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 21st century US stock market remains in one big bear market.
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