Why you should ignore gold price fluctuations

The price of crude oil in terms of gold hardly changed last week, but in terms of dollars both commodities fluctuated wildly. Stick with the metal rather than volatile paper money.

A week ago one barrel of crude oil cost 3.422 goldgrams. Today a barrel of crude oil costs 3.445 goldgrams. So the price of crude oil in terms of gold hardly changed, but in terms of dollars, their prices fluctuated wildly. The dollar price of crude oil dropped 6.7% this past week, while gold dropped 7.3%.

There were similar results the previous week. The dollar price changes for crude oil and gold were increases of 3.4% and 2.7% respectively, while the gold price of crude oil increased a mere 0.7%.

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