GOLD-OIL-RATIO — Daily CSV Download (Gold/Oil Ratio)
The gold/oil ratio measures how many barrels of crude oil one ounce of gold can buy. It captures the relative pricing of the two most important commodities — one a monetary hedge, the other an energy input. A rising ratio signals risk aversion (gold outperforming oil); a falling ratio signals growth optimism. Extreme readings have historically coincided with recessions or commodity cycle turning points.
Dataset: Gold/Oil Ratio (1960–2026) · Updated 2026-06-01
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Source: World Bank Pink Sheet (Gold) + FRED DCOILWTICO (WTI)
Macro Takeaway
This indicator is a key component of the macro-financial monitoring framework. Its current level relative to its historical distribution — captured in the percentile and z-score above — provides immediate context for whether conditions are historically normal, stretched, or compressed. A related angle is set out in gold’s role as a safe-haven store of value when growth falters.
Set in dialogue with the gold price and the WTI oil price helps situate this indicator within the broader macro regime.
Dataset Overview
| Indicator | Gold/Oil Ratio (1960–2026) |
|---|---|
| Geography | Global |
| Frequency | Monthly |
| Period | 1960–2026 |
| Variables | date, gold_price, wti_price, gold_oil_ratio |
| Format | CSV, Excel (XLSX) |
| Sources | World Bank Pink Sheet (Gold) + FRED DCOILWTICO (WTI) |
| Last updated | — |
Dataset Variables
The CSV and Excel files contain the following columns.
| Column | Type | Description |
|---|---|---|
date | Date (YYYY-MM-DD) | Observation date |
gold_price | Float | Gold price (USD/oz) |
wti_price | Float | WTI crude oil price (USD/bbl) |
gold_oil_ratio | Float | Gold / WTI ratio |
Column names match the CSV headers exactly.
Download the Complete Dataset
The full dataset is available in CSV and Excel formats.
Direct CSV Access — Eco3min Structured Dataset
https://eco3min.fr/dataset/gold-oil-ratio.csv
This URL returns the complete dataset in CSV format. It can be used directly in pandas, R, curl, or any data tool.
Using the Dataset in Python
import pandas as pd url = "https://eco3min.fr/dataset/gold-oil-ratio.csv" df = pd.read_csv(url, parse_dates=["date"]) print(df.head()) print(df.describe())
Using the Dataset in R
library(readr) url <- "https://eco3min.fr/dataset/gold-oil-ratio.csv" df <- read_csv(url) head(df) summary(df)
Both examples load the dataset directly from the URL — no download or API key required.
Methodology
World Bank monthly gold price divided by WTI spot price (FRED). Both monthly (last observation of month).
This dataset is updated automatically via the Eco3min data pipeline.
Historical Regimes
Historical regime analysis for this dataset will be added in a future update. The key stats block above provides immediate context for the current reading relative to the full historical distribution. what Dr Copper and Dr Oil signal sets out the mechanism in detail. The gold/oil ratio is one of several cyclical price indicators; reading WTI itself as a macro signal of the economic cycle sits at the centre of that approach.
Related Macroeconomic Datasets
- Gold Price History — The numerator
- WTI Crude Oil Price — The denominator
- Copper/Gold Ratio — Another cross-commodity regime indicator
Macroeconomic Dataset Hub
This dataset is part of the Eco3min macro-financial data repository.
Explore the Eco3min Dataset Hub
Sources
- World Bank Pink Sheet (Gold) + FRED DCOILWTICO (WTI)
Dataset Reference
Last updated — 4 August 2026
Disclaimer – Financial Information: The analyses, commentary, and content published on eco3min.fr are provided for informational and educational purposes only. They do not constitute investment advice or a solicitation to buy or sell financial instruments. Past performance is not indicative of future results. All investment decisions involve risk and are the sole responsibility of the reader.