Gold Vs. Oil In 2023


  • I am structurally bullish on gold and oil with a multi-year timeframe.
  • Between the two, gold likely has the advantage fundamentally and in terms of current momentum over the next 6-12 months.
  • This is part of our Stock Waves' "Where Fundamentals Meets Technicals" short-form tactical series.
  • Looking for a helping hand in the market? Members of Stock Waves get exclusive ideas and guidance to navigate any climate. Learn More »

Abstract low polygonal earth model isolated on white background


I am fundamentally bullish on both gold and oil with a long-term perspective from current levels. Between the two going into the first half of 2023, gold likely has the advantage on its side.

Several times per month

Fundamentals and Technicals Venn Diagram

Lyn Alden


Trading Economics

ISM PMI vs Chinese Credit Impulse Chart

Raoul Pal via Twitter

Defensive Sectors vs S&P 500 YTD Chart


XLE Technical Chart

Zac Mannes via Stock Waves

XOM Technical Chart

Zac Mannes via Stock Waves


F.A.S.T. Graphs

GDX Technical Chart

Zac Mannes via Stock Waves

Gold vs Oil Price Chart

Gold Price in Dollars Chart


I share model portfolios and exclusive analysis on Stock Waves. Members receive exclusive ideas, technical charts, and commentary from three analysts. The goal is to find opportunities where the fundamentals are solid and the technicals suggest a timing signal. We're looking for the best of both worlds, high-probability investing where fundamentals and technicals align. 

Start a free trial here.

This article was written by

Lyn Alden Schwartzer profile picture
Author of Stock Waves
High-probability investing where fundamentals and technicals align!
With a background that blends engineering and finance, I cover value investing with a global macro overlay. My focus is on long-term fundamental investing, primarily in equities but also in precious metals and other asset classes when appropriate.


My work can be found at,, and within the Seeking Alpha marketplace where I work with the Stock Waves team to blend their technical analysis with my fundamental analysis for high-probability long-term setups.

Disclosure: I/we have a beneficial long position in the shares of GDX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Additional disclosure: I am long various energy equities, gold equities, and precious metals.

Recommended For You

Comments (306)

To ensure this doesn’t happen in the future, please enable Javascript and cookies in your browser.
Is this happening to you frequently? Please report it on our feedback forum.
If you have an ad-blocker enabled you may be blocked from proceeding. Please disable your ad-blocker and refresh.