Theoretically, the price of gold is directly proportional to the price of crude oil, but the actual trend is not the same. It can be judged by the same factors that affect gold and crude oil:

US dollars, oil and gold are denominated in US dollars, and the exchange rate change of US dollars will have an impact on gold prices and oil prices. The depreciation of the US dollar against other currencies will not only directly lead to the rise in the prices of commodities such as crude oil and gold denominated in US dollars, but also prompt investors to shift from US dollars to other assets in the financial market. Because oil and gold have financial properties and are potential targets of capital flow, the demand for them may increase, prompting further price increases.

inflation and the devaluation of currencies in other countries around the world may also push up the price of gold and oil. From an economic point of view, moderate inflation is conducive to promoting economic growth. Many countries will buy bonds or issue additional currency to stimulate the economy during the economic downturn. Currency depreciation will eventually lead to a relative increase in the futures prices of commodities such as gold and crude oil, showing a certain degree of homogeneity. In addition, the price change of crude oil futures will also play a certain role in driving gold futures. This is mainly due to the fact that crude oil, as an energy and industrial raw material, its rising price will directly lead to an increase in inflationary pressure, increase the demand for gold preservation and trigger an increase in the price of gold.

geopolitics, for gold, the increase of geopolitical risk will stimulate the risk aversion in the financial market, leading to an increase in demand for gold and an increase in the price of gold. For crude oil, if geopolitical events occur in oil-producing areas, the production and transportation of crude oil will be hindered, and the oil supply will decline, which will support the oil price. Therefore, when geopolitical events occur, there is a greater probability that the prices of gold and crude oil will rise at the same time.

conclusion: after all, gold and crude oil are two relatively independent products, and their relationship is directly proportional to each other. However, in actual operation, it is wrong to buy crude oil just because gold has gone up, nor to buy gold just because crude oil has gone up. Specifically, it depends on what kind of goods the news is aimed at.