After recently placing record nominal lows, the Baltic Dry Index has stabilized over the past few weeks, closing last week in the low 700's at 718.
When charted against a hard asset such as gold however, it is clear that the BDI has continued its record plunge.
While the BDI has stabilized in the low 700's, gold has rallied hard from $1520 to $1780- a full $260 over the past 2 months. Priced in a hard currency such as gold, the BDI has declined another 15%!
Baltic Exchange Dry Index (BDI) & Gold (gold) |  |
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And a long term BDI vs Gold chart: Baltic Exchange Dry Index (BDI) & Gold (gold) "Logarithmic Graph" | |
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