With the Dow Jones index dipping below 9,000 last week, the price of gold held near $850 an ounce – at least until last Thursday’s AM Gold Fix in London. (It’s since lost $100; more in a moment.) So the Dow/Gold Ratio – which simply divides the one by the other, thus pricing the Dow Jones Industrial Average in ounces of gold – fell to a little above ten, making the 30 stocks of the DJIA cheaper in Gold Bullion terms than at any time since January 1995…
October 23rd, 2008 | Adrian Ash | 0 comments | Continued
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