Gap to close up, means more upside for Gold

Historically there is a positive correlation relationship of 0.90 for gold and crude oil, but this relationship is out of whack, and due to adjust.

There is a lot of explanation for that:
1. When middle east earns money from oil, they buy gold
2. Gold is an inflation hedge, so when oil price rises, gold rises
3. Hedge funds use oil price as an indicator to trade gold

Despite gold has been rising sharply for the past few days, there is a lot of catching up to do to close up the gap.