The chart compares WTI crude (top) and the Gold/Oil ratio (bottom) on a weekly basis.
Historically, when the Gold/Oil ratio spikes — meaning gold becomes very expensive relative to oil — it tends to mark the end of the precious metals phase and the beginning of the broader commodity cycle.
In the past three cycles:
-2009 → 2011: Oil +219%
-2016 → 2018: Oil +188%
-2020 → 2022: Oil +572%
We’re seeing the same setup again:
USOIL sits at long-term support.
Gold/Oil ratio has reached historical extremes.
In each of these cases, gold had already led the move — followed by silver, industrial metals, and finally oil — the last to rally as growth and inflation expectations picked up.
If history rhymes, this could mark the rotation point where energy begins to outperform within the commodity complex.
Historically, when the Gold/Oil ratio spikes — meaning gold becomes very expensive relative to oil — it tends to mark the end of the precious metals phase and the beginning of the broader commodity cycle.
In the past three cycles:
-2009 → 2011: Oil +219%
-2016 → 2018: Oil +188%
-2020 → 2022: Oil +572%
We’re seeing the same setup again:
USOIL sits at long-term support.Gold/Oil ratio has reached historical extremes.
In each of these cases, gold had already led the move — followed by silver, industrial metals, and finally oil — the last to rally as growth and inflation expectations picked up.
If history rhymes, this could mark the rotation point where energy begins to outperform within the commodity complex.
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Отказ от ответственности
Все виды контента, которые вы можете увидеть на TradingView, не являются финансовыми, инвестиционными, торговыми или любыми другими рекомендациями. Мы не предоставляем советы по покупке и продаже активов. Подробнее — в Условиях использования TradingView.