According to your data, the price of oil and the price gold are positively correlated at 0.43. (Using one to hedge the other is a defensible risk management strategy.)
Which one leads? It has to be oil. I doubt that American investment in shale or the Saudi decision to sustain productions levels were a response to changes in gold prices.
If we accept this logic, the current global oil glut is not good news for the price of gold.
