As such, Europe has “equalized official gold reserves internationally, strategically allocated their gold, upgraded their gold to current industry standards, and are now promoting gold as the ‘perfect piggybank’ and as ‘protection against high inflation.’” And the movement to buck dollar hegemony is not limited to Europe. Officials in Malaysia and the president of the Shanghai Gold Exchange (SGE) have also publicly advocated moving away from the U.S. Dollar and back to gold.
Now, the revitalization of and renewed faith in the gold standard seems to have spread to the energy sector as well. Analysts at Morgan Stanley have said that they think that the ratio between two of the most watched commodities on Earth--oil and gold--is “worth highlighting,” remarking that this golden ratio (so to speak) could or should be of interest to those looking for a crystal ball for oil price futures.