the oil - gold ratio has recently gone over 60 to 1 ... that's 60 barrels of oil to buy an ounce of gold.
the last time it was this extreme was in the depression. the average is normally close to 15, with the ratio going from below 10 , or above 20 (up to 25 as a high). a few years ago, no one would have guessed it would get to 60-1...
at the bottom of the depression it was close to 100-1 (briefly).
oil is far too cheap at this level.
Thanks for the great link/chart cutworm!
By Tsvetana Paraskova - Mar 24, 2020, 12:00 PM CDT
You may know this but there is a separation between physical gold and gold futures prices with physical gold having a larger price and premium than normal
There is a shortage of physical gold coins and bars
Physical and futures are not the same price with physical gold much more valuable
Physical gold will continue to increase in value over time although it may take some time
If you have physical gold you want to hang on for the long haul