Crude oil and gold are two of the world’s most closely watched commodities, and while they serve very different purposes, movements in oil prices can have a meaningful impact on gold. When crude oil rises sharply, it often creates economic conditions that make gold more attractive to investors. This relationship is not always immediate or perfectly direct, but it is important and well worth understanding. One of the main ways higher crude oil prices support gold is through inflation expectations. Oil is a foundational input for the global economy. It affects transportation, manufacturing, heating, and the cost of ... (full story)