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August 18, 2008
Price of Oil has been constant in gold terms
Humm, i don't think the fall of currency valuations is the ONLY thing causing oil to go up, but it certainly is a large one. this chart is a bit missleading in that all commodities have gone up gold, oil, etc. Showing a preference for physical commodities over currency by asset holders. This relationship can just as easilly change the other way. The part that puzzles me is that Oil is facing fundamental structural changes in supply/demand while most other commodities, inlcuding gold are not. Why are all commodities tied so closely? humm...
Posted by Martin at August 18, 2008 12:41 PM
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