Well-written! I love the sources you provided.
Could you please explain what you mean by "By historical measures there has been a .97 positive correlation between gold and oil."
How did you come to this number?
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I read about the correlation some months ago...don't remember the source though, but because I follow all assets classes, it made sense to me. Here's a chart from tradingview with Gold and Oil (orange line) on the monthly chart together.
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