Sunday, April 6, 2014

2013 was a narrowly "oil investing" year based on the gold/oil ratio

The cumulative average price of gold in 2013 (London fix) was $1411.23 and the average price of Illinois Basin crude was $89.84, yielding a gold/oil ratio of 15.7, a narrowly "oil investing" year.

Gold fell $500 in price in 2013, from about $1700 to $1200.