Gold Silver ratio (XAU/XAG) = ~ 47.45, Dow / Gold (INDU/XAU)= ~18.69, Gold / Crude oil (XAU/WTIC) = ~8.60.
Crude Oil Chart here
Julian D.W. Phillips (The Gold Forecaster)has published 3 parts observation under the name : Gold & Oil - 1971 Until the Future.
"As it becomes clearer that the $ hegemony is going too far, as record after record U.S. Trade Deficits are published, most nations and wealthy individuals are seeking to diversify away from the $. It is clear that despite any present or future exchange rate management [and the Fed has just prepared itself to interfere on the foreign exchanges of the world] and the reality that oil is priced in the $ the exchange rate value of the $ is suspect and likely to fall, eventually.
But where are do you run to from the $? All the world’s other currencies are dependent on the global monetary system of which the $ is the foundation on which other currencies rely, especially the Euro [despite its design as a reserve currency]. Each currency has its place in the currency world and has an enormous dependency on the $. We even suspect that those controlling the Euro do so in tandem with the $, so as to keep the relationship between the two largest global currencies completely stable [as can be seen in the last year’s performance of the $:Euro]. So diversifying out into another currency would hardly solve the problem, would it? In the face of a fall from power of the $, all currencies would follow, like Pilot fish stick to sharks, down to the depths."
Part 3: The Future of Gold and the Devaluation of the Dollar