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Incredible Charts: Gold-Oil Ratio (520 words) |
 | Gold and crude oil prices tend to rise and fall in sympathy with one another. |
| As oil prices rise, much of the increased revenue is invested as it is surplus to current needs -- and much of this surplus is invested in gold or other hard assets. |
| This was followed by another spike in 1978 at the time of the Iranian revolution, culminating with the subsequent invasion by Iraq and the start of the Iraq-Iran war. |
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Wikipedia search result (3322 words) |
| The price of standard crude oil on NYMEX was under $25/barrel in September 2003, but by August 11, 2005, it had risen to over $60/barrel, and topped out at a record price of $78.40 per barrel on July 13, 2006. |
| Experts attributed the spike in prices to a variety of factors, including North Korea's missile launches, the Crisis between Israel and Lebanon, Iranian nuclear brinkmanship, and reports from the U.S department of energy showing a decline in petroleum reserves. |
| While oil prices are considerably higher than a year ago, they are still roughly $14 from exceeding the inflation-adjusted peak of the 1980 shock, when prices exceeded what would today be equivalent to $90 a barrel. |
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