Charted

How Much Oil Can You Buy With An Ounce of Gold?

Ratio is sitting near its lowest level since the start of 2017

Gold is trading near its cheapest price relative to oil in almost a year, as expanding global economic growth fuels demand and cuts the appeal of haven assets. “Oil demand looks higher, while gold demand is kind of stagnant,” said Bob Haberkorn, a senior market strategist at RJO Futures in Chicago. “Gold has taken a back seat to equities, and there’s just not a lot of buying going on.”

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