Gold & the DOW

I was reading some article (somewhere ... can't remember where) that asked whether Gold is currently cheap or expensive or ...

>How do you measure "cheap" or ...

That was the point I was TRYING to make!
The article calculated the number of ounces of gold necessary to buy the DOW.

If the DOW is at 10,000 and gold is $400 per oz., then it takes 10000/400 = 25 ounces to buy the DOW.

>Yeah, so?
So if it takes lots of ounces to buy the DOW, then gold is underpriced.

>Lots? Compared to what?
Compared to some historical value ... as shown here

>It looks like gold is underpriced. Is that what you'd conclude?
Oh, I never conclude anything. I just play with the numbers and plot charts and ...

>Yeah, sure.