Gold/Oil correlation is not historically conclusive enough to be objective, but I do not disagree that the entire commodities complex will be under deflationary pressure and Gold will likely end lower in 2015.
The historical difference between now and then is global yield rates are all on a path to zero or negative yields. ZIRP alone could put a floor in gold. I wouldn't be surprised to see gold 1300 before 1000.
No. In 2009 at bottom gold was 750.00(after a record breaking 1000 oz)---- oil bottomed at near 40.00 after a record breaking 140.00 a barrel.
now gold will bottom near 1000 (after a record breaking near 1900 oz) as oil depending on who wins OPEC...or the Bakken.... near 40.00(after its clockwork stairstepped run back to 110 --5 years later
*golds 1200 support is not holding----1000 is the only true support gold now has. It's next drop thru turns 1200 back into resistance and a cap line per chart technicals.
**trend lines for both commodities are of an upwards lifespan move----its all on how long u want to run the chart out for... My point is learn the true bottoms of each per technicals. these 2 sectors will be our (traders today).....THE NEXT GREAT BUBBLE IF YOU (the trader) WILL LEARN THE CHART'S HISTORY.
I doubt gold will go lower at all, and your comparison is very vague. although they historically do move the same, a gold oz/barrel comparison, they deviate during market moves. I dont think you will ever see oil below 40 again, the world is too busy and big. It only went there because of world recession, and will do the same only in similar situation.
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