Dow to Gold Ratio Shows Stocks Have Lost a Third of Value Since Early 2024, Mises Economist Says

Economist Vasilii Sapozhnikov from the Mises Institute claims the Dow to gold ratio offers a clearer view of true inflation and market worth than official figures. On August 17 the Dow closed at 53459.78 with gold near 4400 dollars an ounce, producing a ratio of roughly 12 ounces. In early 2024 the ratio stood at about 19 ounces, meaning equities have shed one third of their value in gold terms over two and a half years.