A generally positive week for all asset types, with only coffee, down 2.3%, gold stocks, down 1.6%, and the JPY, off 0.5%, showing losses. The big winner was copper, which after catching it's breath last week, continued to skyrocket, gaining 10.4% this week. The major stock indexes were all higher, led by the Dow Jones Industrials, which gained 3.5% to close at 501.6 grams. Financial headlines have been filled with stories about this recent series of "highest ever" dollar prices for the Dow… but readers of Priced in Gold know that the Dow has yet to equal it's 2015 high of 523.5 grams, or it's 2007 high of 652.6 grams. And to really get into all-time high territory, the Dow will have eclipse its August 1999 high of 1393.2 grams – 2.8 times higher than today's price. Could that happen? Maybe some day, but probably not soon, and probably not without seeing considerably lower prices first.
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