Generally speaking, the relationship between the two is subtle: crude oil is more important as a strategic material than gold, which is also a strategic material. Gold and oil have different elasticity of price demand in economic life. Crude oil is a necessity, while gold can find a substitute. The turbulent situation often pushes up the price of crude oil, and the inflation caused by the rising price of crude oil will push up the price of gold. As a safe-haven currency, investors tend to buy gold for the sake of avoiding risks. When the economy recovers, the effective investment is diversified and the investment risk is reduced, investors will consider not holding a large amount of gold, which will lead to the decline of gold. At this time, because of the production and use of crude oil, there will be no decline, so it will fall while rising.
In the final analysis, both are influenced by the relationship between supply and demand. Politics, economy, military, reserves and so on will all have an impact on both.
Do you mean Shanghai Stock Exchange or foreign markets?
My hands are too tired, so let's talk about it briefly. Hee hee.