Below is a quick chart comparing the prices of gold and oil from 1970 to 2009.
The price of gold in US$ is on the left vertical axis and the price of crude oil in US$ is on the right vertical axis.
Its interesting how similar the trends are. Why the two might follow similar pricing trends is a good question that I might examine in a following post.
Historical crude oil prices were found at the Energy Information Administration website for Annual Energy Review. I used their data for Crude Oil Domestic First Purchase Prices, 1949-2007. Then for 2008 & 2009 numbers I used their short term energy outlook page.
Gold prices are from Kitco
March 9, 2009
Gold versus Oil prices from 1970 to today
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