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!
