For some perspective on the long-term performance of the stock market, today’s chart presents the Dow priced in another global currency — gold. Today’s chart illustrates how it currently takes approximately 12.5 ounces of gold to ‘buy the Dow’ (i.e. the Dow / gold ratio) — well off the 44.8 ounces it took back at its peak in 1999. Priced in gold, the Dow had been in a massive 13-year bear market. However, back in the summer of 2011, gold peaked while the Dow continued to rally. While the Dow (priced in gold) is currently well-off its dot-com record highs, it has been on a tear as of late. The current rally has resulted in a break above resistance of its latest downtrend channel as well as new post-financial crisis highs.
Notes:
Where’s the Dow headed? The answer may surprise you. Find out right now with the exclusive & Barron’s recommended charts of Chart of the Day Plus.
Quote of the Day
“We can chart our future clearly and wisely only when we know the path which has led to the present.” – Adlai E. Stevenson
Events of the Day
July 04, 2013 – US Independence Day
July 07, 2013 – Running of the Bulls begins in Pamplona, Spain (ends 7/14)
July 14, 2013 – Bastille Day (France) – British Open golf tournament begins (ends July 21st)
July 16, 2013 – Baseball All-Star Game
Stocks of the Day
— Find out which stocks investors are focused on with the most active stocks today.
— Which stocks are making big money? Find out with the biggest stock gainers today.
— What are the largest companies? Find out with the largest companies by market cap.
— Which stocks are the biggest dividend payers? Find out with the highest dividend paying stocks.
— You can also quickly review the performance, dividend yield and market capitalization for each of theDow Jones Industrial Average Companies as well as for each of the S&P 500 Companies.
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