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Oil Appears Undervalued Relative To Gold. Weekly Chart At Key Juncture

  • Writer: Lester Davids
    Lester Davids
  • Oct 6
  • 1 min read

Research Notes October 2025 > https://www.unum.capital/post/roct2025

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The chart is a weekly ratio of oil vs gold which plots the ration in the upper panel and the distance vs the 200-week in the lower panel. Currently, oil appears undervalued vs gold and is trading 57% vs the 200-week SMA. This distance is in line with prior swing lows going back several decades and is often associated with 'turning points' points for the ratio.


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Lester Davids

Senior Investment Analyst: Unum Capital



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