How Many Barrels of Oil To Buy An Ounce of Gold?

After an earlier post discussing the relationship between the S&P-500 and the price of gold, I received a number of questions on how “black gold” (i.e., oil) might play into the analysis. The chart below shows a comparison of these two popular commodity indicators. ┬áThe chart shows a very long-term view (going back to 1945)…