Premise: gold is money. We just want to show how much the US stock market and the super trendy oil are worth in gold terms. Also we will see the different perception of a chart with the prices shown in a logarithmic scale versus a linear one.
The chart on the left shows that after a big punishment, the stock market is starting to go up again. In any case, we are really far from the peak. Besides, the 2 oscillators are in overbought territory. Some people might think that this graph is more realistic than the one paid in USD. Also it is possible to appreciate that the Y axis is logarithmic. For the long term I absolutely prefer this one instead of the linear one.
The chart on the right shows a linear scale for the same information, however we don't see such a big recovery now. It's visually more difficult to observe the strong turn from the minimum. It doesn't matter if it has passed from 550 to 60, if a investor buys at 60 and now the market trades at 180, it has tripled. The same happens when we see what we think it is a minor correction in our way to the top: sometimes it is down more than 50%, but it doesn't look like it.
Now let's go for the oil paid in gold, again in logarithmic scale. No doubt, really down, very close to an absolute minimum, from 28 to 5. It doesn't look oil is about to finish, more the opposite: it seems the Mad Max scenario was pure imagination. Check out what has happened to natural gas during the last years. Some think this is a secret war against Russia or the shale oil producers, but perhaps it's just the World slowing down and Saudia needing to sell. Of course our bills won't know much about it.