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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Why Gold’s Base Price Should Be North Of $2,000

Posted on 17 June 2014

Even though present Geo-political events in Iraq have now pushed up the price of gold due to Brent Crude hitting a new high in 2014, the value of the yellow metal relative to oil is still way below its historical average. Currently, the price of Brent Crude is trading at $113.35, while gold is at $1,275. This is an embarrassing 11.2 to 1 ratio…. thanks to the manipulation by the Fed and member banks.
We can see the average Gold-Oil Ratios for the past 5+ decades. When the U.S. Dollar was backed by gold, the average gold-oil ratio during the 1961-1970 period was 20 to 1. Which means one ounce of gold could purchase 20 barrels of oil……………………………………….Full Article: Source


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VRS - who has written 38515 posts on Opalesque Commodities Briefing.


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