Just a FYI since this related to what I do everyday.

OIL & Gold are correlated
Dollar - Weak = High Gold and Oil
Dollar + Strong = Lower Gold and Oil

Oil trades on the Dollar Currency

China get's paid in Dollars from people like WalMart and YOU
China does not convert that dollar into Yuan. They buy Dollars, US Treasuries or MORE Oil for their Strategic Reserves.

The Dow has nothing to do with Oil prices and neither does any World President.
Oil Trades every day by people on the NYMEX which dictates the price. Because humans trade oil it is subject to psychology. OPEC just sets how much they are supplying the world.

Now there is no doubt US and foreign gov'ts have manipulated the US Dollar to be at this level. However, every indication is that is reversing. Hence, lower Gold and Oil.

Nevertheless, just like everything else, we all will probably see a superspike in prices before it's all over...