Yes, there is a high probability of negative correlation between gold and crude oil, and it will show the opposite trend in 80% cases. Only in a few cases will there be a trend of rising and falling together. Because gold is a typical safe-haven asset, it is easy to rise when the economy is depressed, and the advantage of crude oil is closely related to the economic prosperity. If the economy is depressed and the demand for crude oil is low, the price will naturally not be high, so the economic relationship between the two varieties is basically opposite, so generally speaking.

Extended data:

The pricing of the international crude oil market is based on the standard oil in the world's major oil-producing areas. For example, on the New York Futures Exchange, crude oil futures are based on "WTI" produced in West Texas, and all crude oils produced or sold in the United States are priced based on light and low sulfur WTI. Due to the strength of American super crude oil buyers and the influence of New York Futures Exchange itself, crude oil futures trading based on WTI has become the leader in global commodity futures trading volume. Generally speaking, this kind of crude oil futures has good liquidity and high price transparency, and is one of the three benchmark prices in the world crude oil market. When the public and the media usually talk about how many dollars the oil price has exceeded, it mainly refers to this price. However, more than two-thirds of the world's crude oil trading volume is not based on WTI, but on Brent crude oil in the North Sea, which is also light and low in sulfur.

On June 23rd, 1988, the London International Petroleum Exchange (IPE) launched Brent crude oil futures, including northwest Europe, North Sea, Mediterranean, Africa, Yemen and other countries and regions, all based on this. Because the futures contract meets the needs of the oil industry, it is considered as a "highly flexible tool to avoid risks and transactions" and also ranks among the three major international crude oil prices. London has thus become one of the three major international crude oil futures trading centers.

Brent crude oil futures and spot market constitute Brent crude oil pricing system, covering up to 80% of the global crude oil trading volume. Even today when the price of crude oil in new york is becoming more and more important, about 65% of the global crude oil trading volume is based on Brent crude oil in the North Sea. The conversion relationship between tons and barrels is: 1 ton (crude oil) =7.33 barrels (crude oil), that is, a barrel is about 136 kg. Although there is a fixed conversion relationship between tons and barrels, because tons are quality units and barrels are unit of volume, the density of crude oil varies widely. Therefore, in crude oil trading, if different units are used for calculation, different results will be obtained.