Gold: Past, Present, and Future
in Other Investment Types ·
The Dow Jones is flirting with record highs, but gold is actually crushing it
CNN is having a field day reporting how the Dow Jones smashed through that psychological 14,000 mark late last week. By the time the closing bell rang in New York City, we were staring down the barrel of the old October 2007 record of 14,078. It’s all very exciting, apparently.
What nobody seems to be mentioning, though—because why would they?—is the math behind it. Back when we hit that peak in 2007, the Dow was trading at 17.7 times the price of an ounce of gold. Today, despite looking just as high on paper, it’s only sitting at about 8.5 times the price of gold. Back then, gold was hovering around $795 an ounce; now, it’s sitting at $1,660. You could run the same comparison with oil, silver, or sugar if you really wanted to feel better about your portfolio.
Read the full piece here: http://www.srebrozlato.com/cro-news/...vrednije.shtml
CNN is having a field day reporting how the Dow Jones smashed through that psychological 14,000 mark late last week. By the time the closing bell rang in New York City, we were staring down the barrel of the old October 2007 record of 14,078. It’s all very exciting, apparently.
What nobody seems to be mentioning, though—because why would they?—is the math behind it. Back when we hit that peak in 2007, the Dow was trading at 17.7 times the price of an ounce of gold. Today, despite looking just as high on paper, it’s only sitting at about 8.5 times the price of gold. Back then, gold was hovering around $795 an ounce; now, it’s sitting at $1,660. You could run the same comparison with oil, silver, or sugar if you really wanted to feel better about your portfolio.
Read the full piece here: http://www.srebrozlato.com/cro-news/...vrednije.shtml