InfoGraphic: All About Gold -- Past and Present
From OneMint (via BusinessInsider) comes this data-packed chart that looks at gold's present, recent past, and ancient past. You can find more information here or here. Gold has been seen as "real money" by most civilisations from ancient times. For a clearer, larger image, see here.
What about oil? Oil is being manipulated out the kazoo by the big money investment funds and firms. If the price of oil ever does rise -- AND STAY -- above $100 a barrel (1980 dollars) for a long period of time, substitutes for oil will pop out of the woodwork after their natural respective delays for development and scaling.
So no, oil is not the new gold. Even platinum is not the new gold, since catalytic substitutes for platinum -- as well as several promising ways of reducing the amount of platinum in catalytic units to tiny amounts -- are coming on fast.
Gold is not so much an investment, as it is a stable repository of wealth -- although a lot of people have done much better than the stock markets via gold investments recently.
If you had invested in gold when I first mentioned it, you would have done very well. If you scoffed, you lost. At this point, gold will only drop dramatically if Obama completely changes his approach to governing, loses his anti-market bigotry, and dumps his blood-sucking friends in public sector unions, the faux environmental movements, and abandons the radical left.