Generally speaking oil and gold tend to follow very similar trends.
One of the factors that determines oil price in the short term is if the states/europe have a cold winter or not. Some say that a season of strong hurricanes follows a colder winter in the states.
The bull run on oil (if it happens) over winter will come down to how quickly oil refiners can keep reserves topped up as they have had a relatively warm few months in the states to stock up. Will wait for the supply reports as they are issued and the weather reports.
It will be very interesting in the near future if gold will see 550-800 like some are predicting or hoping??
