Give it a chance, the application of 10 seconds of brainpower will tell you where this is going.
A fall in the price of oil benefits all western economies, it seeps through to farming, business and transportation, the NYSE Airline Index for example is on a tear, up 36% in the last year. Farming, business, airlines, railroads, car and retail sales will all gain and of course so will world stockmarkets, new records for the DJIA overnite.
The N225 is up 11% for the last year, they import all their oil, how good will this be for Japanese companies? Gold indexes down overnite in the USA.
Going back 5 years oil and gold aren't that correlated, both have been in unsustainable bubbles which have burst, but they're reasonably correlated over the last 2 or 3 years.
None of this can be good for gold, but I'll hand it the goldbugs, they sure love pain.
