Monday, May 05, 2008 goes Gold, so does Oil?

I saw this BLOG today that describes what sounds like dire times for oil....but at the end of the article, I saw the graph I have included here.

It is interesting to me because it compares the price of oil (per barrel) to in units of dollars, Euros, and Ounces of Gold.

We know how Gold has gone up in recent years.....and we see the same thing with oil.

But I didn't think the price of oil and gold had tracked each other so well....almost a flat line as opposed to the dollar!

What does that mean? Do people put Oil on the same level as gold? That is, is it so needed by the world that it has become a new place to consider a "sure thing" should there be financial collapse?

I don't think so myself.....but I wonder what other think?

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Blogger nipsum said...

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3:14 AM EDT  

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