This means the difference between one Dow Jones average and one oz of gold is getting smaller. The trend suggests that the gap will continue to close between the Dow and Gold. With the Dow above 10,000 today and Gold making all time new highs, could it still be the time to buy gold? Could this market rally be a result of inflation? And with the dollar losing so much is the Dow even in a market rally?
Wednesday, October 14, 2009
October 14th, 2009 Economic Update
Hello everybody and good afternoon. Today is Wednesday October 14th, 2009. Today the Dow Jones hit 10,000 for the first time in a year, just 7 months after hitting its 12-year low of 6,547. The Gold price settles down to 1064 after testing 1070. Silver prices had a volatile day, reaching 18 dollars only to plunge and find support at 17.50 then closing at 17.80 continuing its uptrend. The dollar index continues its downtrend closing today at 75.77. An interesting chart I want to focus on today is the Dow Jones/Gold. This chart measures the Dow Jones in terms of the spot Gold price. This chart shows a downward trend.
This means the difference between one Dow Jones average and one oz of gold is getting smaller. The trend suggests that the gap will continue to close between the Dow and Gold. With the Dow above 10,000 today and Gold making all time new highs, could it still be the time to buy gold? Could this market rally be a result of inflation? And with the dollar losing so much is the Dow even in a market rally?
This means the difference between one Dow Jones average and one oz of gold is getting smaller. The trend suggests that the gap will continue to close between the Dow and Gold. With the Dow above 10,000 today and Gold making all time new highs, could it still be the time to buy gold? Could this market rally be a result of inflation? And with the dollar losing so much is the Dow even in a market rally?
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