How many ounces of gold will DOW be worth in 2009?

Has anybody figured out exactly how low it has dropped already? I only estimated, but looks to me like the last two options have already been ruled out...

I did a bit more research, the best I can tell is that, so far, it bounced off a low of 7.01 on March 5th.

Further research: on March 6, intraday dipped below 7, but closed above. We need clarification if we are talking about CLOSING price. I will send a flag.

thanks tuff.

I think it will probably be best to base this upon the daily closing price of gold, as it may be more difficult to exactly peg intraday prices for an event along the way....

thanks bb, that's what we needed to know.
keep up the good work - this is an awesome clever question, should be lots of fun...

@rogerk: gotta give you credit for consistency. Consistently betting on a very bearish scenario. Consistently wrong. That position made you good bucks during the free-fall days, but while recovery will take a long time, meltdown has been averted. Your massive losses will be my hefty gains. Thanks for repeatedly providing me with attractive entry points!

Please do not make the mistake I did. Do NOT put money on greater than 8. It CANNOT win.

@rogerk: you are a very persistent chap. loosing a lot of money the past quarter, I notice.
perhaps you did not read the above explanation. the close was NOT below 7 at any time. currently, the value is about 9.14. the dow would have to drop to about 6500 for the ratio to fall below 7...

rogerkni, I really appreciate the fact that you keep throwing good money after bad and keep giving me very attractive entry points to increase my winnings by the end of this year. You can temporarily mitigate your losses by throwing more money into the pot, but in the end it's where the Dow and gold go from here and I just don't see any evidence to support your doomsday scenarios.
So, please keep doing it, you have been tremendous help to me! And don't worry about your 80k quarterly loss or your last place standing. It's just play money.

tuff - roger might be talking to guido. better becareful.

@ diesel: roger may well BE guido, but that's besides the point. I shared his bearishness back then (but I was not a player here). Times have changed though. I could see some retrenchment coming, but the apocalypse is not going to happen. The recovery will be slow and bumpy and it may well take 5 years to get back to where we should be, but I don't see Dow 6000 or $1500 gold People fall in love with their convictions and don't adjust their stance as the evidence changes - to their detriment.
Anyway, I am a bit more cautious with my real money, but hey, this is just H$$! Time will tell...

"Today the DOW is only worth less than 8 ounces of gold, that's an 83% of decline but how low will it go from here?"
The market was created on February 24th. The ratio was 7.21 on February 23rd, 7.62 on February 24th, 7.64 on February 25th.
http://www.kitco.com/scripts/hist_charts/daily_graphs.cgi
http://money.cnn.com/quote/historical/historical.html?pg=hi&close_date=25%2F2%2F2009&mode=add&symb=INDU
So why the option "Greater than 8 ounces of Gold" when the ratio was already below when this question was created. I am sure I am missing something.

This market seems to be for the lowest price for 2009. A lot of people seem to again misread it.
I reask the question from my previous post. Gold was less than 8 ounces of gold when this market was created so why the option "greater than 8 ounces of gold" was/is allowed, the very option that again causes misunderstanding.

Your point is well taken, bogdan, but it is a bit late to void the question or to change the options. So, people wager on impossible outcomes at their own peril. If you don't do your research, you stand to lose. That's life in the big city. "Caveat emptor" (buyer beware) is a time-honored rule in real life as it is here.

This is another example where the settlement details are not even indicated in the question. If the intention was to ask what the lowest ratio for the tear was, that is the question that should be asked. The question as posed is unambiguos. To have a settlement based on the opposite of the headline question is farcical.

"tear" should be "year" above.

I agree that it is late to be voided. But if it is suspended until settlement at least no more people will get trapped in this.
I am sorry I couldn't find this earlier but I usually bet on closing soon questions and very rarely on newest except of challenges.

If you still feel that the idea of the question is worth, another question could be created for the remaining of the year, this time a correct one.
I have an advantage over all the other people here because of daily training in staying alert of innovative scams and watching my pockets. But enough bragging, I was duped by this question too three month ago not reading the settlement details and the comments.

Well, first, this is not my question, so I don't accept any blame for it. But, I personally don't think it is that ambiguous. The background explains the fall of the dow relative to an oz of gold and settlement details specify that the lowest ratio is what the market is about. Subsequent comments 2-9 clarify the remaining issues, including a clear statement that >8 is impossible. Not reading the settlement details and early comments is a mistake I have made also in the past - but I accepted that it was my own fault, not the question creator's.....
In any case, I have no jurisdiction over this, if you want some action to be taken, you would need to flag it to the attention of the Cat Ed.

Voiding the question would not be the proper action, but suspending it also would not be correct since many people have wagers placed and would have $H tied up until we could settle...

Players should examine the questions carefully, including comments. This one has been around for quite a while, so let's let it run it's course.

I'll add an extra notation in the background to hopefully help clarify matters.

I don't think anyone other than the person failing to read the question carefully is to blame for making wagers on impossible outcomes. Seems like we are getting more of that again. THE > 8 OZ OPTION HAS BEEN RULED OUT. PLEASE BE FOREWARNED! WAGER AT YOUR OWN PERIL...