correlation with oil price gives us hope for POG
Others have noted that over a long period, the rise or fall in the price of gold and the price of oil tend to follow similar trend lines on their charts. The usual explanaiton is that the cost of fuel is a major factor in gold production, and producers will slow down or cease exploration and/or production when mining is less profitable. With that factor in mind, the recend rise in fuel costs should, sooner or later, lead to a rise in the price of gold. That trend seems to have already started.
My expectation is for it to continue.
Erie