The US has major financial problems and the US$ is falling and hence commodities like gold and oil are rising in US$. Oil is rising in all currencies a lot more than say gold because oil is essential to our way of life and is consumable. Gold is neither essential nor consumable.
Now that the US elections are over and the Republicans firmly entrenched the bad news will all come out. I'd expect a recession in the US shortly to last a couple of years and then a recovery before the next national elections in four years time. Expect a lot of hurt and a big bear market over the next couple of years.
