Just like the oil price was revalued multiples higher in 1973 to create the Petrodollar system (there wasn't enough oil to USDs at the time so oil had to be repriced higher), that we have been operating under till recently.
Gold will have to be revalued multiples higher (gold price must be increased and debt monetised, to cater for amount of excess currency out there) now that 20% of global oil pricing is done outside the USD.
The GOLD to OIL ratio will garner more significance in the years to come as more folks wake up to this new reality.
8 barrels per Oz in 2014 and 26 barrels per Oz today and will go higher.
The trend is set. Higher POG imminent.
Just like the oil price was revalued multiples higher in 1973 to...
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Last
26.0¢ |
Change
0.010(4.00%) |
Mkt cap ! $56.85M | |||
| Open | High | Low | Value | Volume |
| 25.5¢ | 26.0¢ | 24.5¢ | $192.7K | 765.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1455 | 26.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 26.5¢ | 32000 | 3 |
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| Last trade - 15.52pm 30/08/2024 (20 minute delay) ? |
| BGD (ASX) Chart |