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Anybody Investing In Gold Or Oil? Any Good Online Sites For Prices?

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Apologies as this has probably already been covered. Anybody think that the price of oil and or Gold has much further to run? any good sites to get some price chart history?


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Apologies as this has probably already been covered. Anybody think that the price of oil and or Gold has much further to run? any good sites to get some price chart history?


Kitco for gold.


http://www.kitco.com/LFgif/au75-pres.gif -- not inflation adjusted.

Edited by Nijo

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Guest Riser

I was searching google for links on the rellationship between Oil Gold and Inflation and found this, it seems to sum things up nicely :)


....Today, apart from geopolitical threats in oil-producing regions, supply/demand

imbalances from Peak Oil and increasing demand from developing countries, the

price of both gold and oil can be expected to increase as the US dollar declines.

With an ever-increasing US money supply, growing triple deficits and mounting debt

at all levels, the US dollar is likely to continue the decline that began in 2001. Since

then, foreign holders of US dollar assets have already lost 33 percent of their

investment. How long will oil exporters continue to accept declining US dollars? How

long will they continue to hold US dollars as their reserve currency?

At some point, they may decide to abandon the US dollar in favour of euros. Russian

premier Vladimir Putin and Venezuela’s president Hugo Chavez have both publicly

announced that they may begin to price oil in euros in the near future. Even Saudi

Arabia has stated that it is considering pricing its oil in euros, as well as in US dollars.

There have even been discussions among Arab nations about pricing oil in Islamic

gold and silver dinars. If this happens, other producers may follow suit and opt out of

accepting US dollars for oil. Demand for the currency will plummet, sending the

dollar into a freefall while demand for euros, gold and silver soars.

In addition, Middle Eastern oil producers would be forced to diversify their vast US

dollar holdings into precious metals and other currencies to protect themselves from

further losses. As losses mount, other large, non-oil producing, US dollar holders such

as Japan, China, Korea, India and Taiwan would seek to diversify out of US dollars.

Eventually, this could result in a dollar sell-off and a corresponding increase in oil and

gold prices.

Over the last 50 years or so, gold and oil have generally moved together in terms of

price, with a positive price correlation of over 80 percent. During this time, the price

of oil in gold ounces has averaged about 15 barrels per ounce. However, with recent

soaring oil prices, the relationship has strayed far from this average. While oil prices

recently set an all-time high of $56 per barrel, gold prices have not kept pace and

the oil:gold ratio fell to an all-time low of 7.5:1. At US$56 per barrel oil, the gold price

should be in excess of US$840 per ounce. Some experts are suggesting that, in two or

three years, US$100 per barrel oil is very possible. At that price gold should be US$1500

per ounce.

The gold silver:ratio has varied from 16:1 to 100:1. Currently it is about 66:1. Gold

Fields Mineral Services expects this ratio to fall to between 40:1 and 50:1 in the near

future. At a 50:1 ratio and a $1,500 gold price the price of silver should be

$30/ounce. At 16:1 it would be $94/ounce.

The size disparity between oil and gold markets must also be considered. While

annual gold production is approximately US$35 billion, annual oil production is US$1.5

trillion, by far the largest-trading world commodity. As oil prices increase and

demand for US dollar diversification increases, there will be an ever-expanding

number of petro dollars and other offshore dollar holders chasing a relatively small

amount of bullion ounces.

In conclusion, the price of oil is poised to rise steadily as the supply/demand

imbalance increases and the dollar declines, even if there are no supply disruptions,

terrorist threats or geopolitical concerns to consider. As this happens, the price of

precious metals will climb until they eventually catch up to their historic ratios. Should

oil producers demand euros, dinars or precious metals in payment for their product,

the decline in the US dollar will accelerate while the price of precious metals

explodes. If oil producers and other foreign US dollar holders begin to sell the trillions

they hold and diversify into alternatives, then the price of both oil and precious

metals will rise to levels that today are hard to imagine.....

They provide a link to the following with live prices: The Millennium BullionFund

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