Yes, it’s called the “free” market, at least as far as we know. A long time ago, gold was always pegged to the price of oil at a ratio of 16 to one. At current prices that is not far off the mark.
When? Link?
“Yes, it’s called the “free” market, at least as far as we know. “
Actually, a manipulated market. The Saudis are trying to crash oil prices by manipulating oil prices below $75/bbl, the cost to produce fracked oil. Fracking is killing Saudi profits.