- According to Deutsche Bank analyst Jim Reid, gold just broke through its previous record price relative to oil, set back in 1892.
- An ounce of gold will now set you back more than 40 barrels of oil.
- The cost of gold relative to oil prices is used by some investors as a signal of financial jitters; concerns about global growth typically drive oil prices lower and the gold price higher.
- Currently, gold futures are -0.7% to $1,239, while crude futures are +4.5% to $27.41.
- ETFs: GLD, IAU, PHYS, SGOL, UGL, DGP, GTU, GLL, UGLD, DZZ, GLDI, OUNZ, DGL, DGZ, DGLD, GEUR, GYEN, UBG, QGLDX, USO, OIL, UCO, UWTI, SCO, BNO, DWTI, DBO, DTO, USL, DNO, OLO, SZO, OLEM
- Source: WSJ