With oil now hitting record highs and gold well off mid-May levels, the gold-oil ratio continues to shrink. Today, one ounce of gold only buys 8.57 barrels of oil - a ratio of 0.11.Oil hit a fresh record high of $75.78 a barrel today, boosted by strong demand in the United States and global tension ranging from Iran's nuclear work to North Korea's missile tests. Prices drew early support from a U.S. government report yesterday showing gasoline demand grew by 1.4% in the last four weeks from a year ago, with summer driving months still head. But rebel attacks in...
