A major trend indicator.

The Dow:Gold Ratio is an indicator which shows investors whether to favour precious metals or stocks in their portfolio. It is calculated by dividing the Dow Jones Industrial Index by the price of an ounce of gold. More simply it is the number of ounces of gold required to “buyâ€� one unit of the Dow. When the ratio is rising, it is time to be overweight (purchase more) stocks and other financial assets. When the ratio is falling, it is time to be overweight gold and precious metals in your portfolio. As Figure 4 clearly shows, the ratio has been falling since 2000 and economic conditions make it likely that it will continue to fall to a 2:1 or 1:1 ratio. This ratio decline is positive for holding gold and precious metals.

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