Gold's bull market endures, just watch this ratio - Bloomberg Intelligence

(Kitco News) The bottom in the gold price will be marked by the crude oil prices peaking, which is the most likely outcome, according to Bloomberg Intelligence.

"Probabilities are rising that the bounce in crude oil is done, with what we see as implications for a return to more-enduring upward trajectories in gold and bond prices," said Bloomberg Intelligence senior commodity strategist Mike McGlone.

A peak in crude at $70 marks the bottom in gold, McGlone specified.