The Copper/Gold ratio continues its breakdown
As if on cue to what NFTRH 754 had to say last weekend:
However, I am most interested in copper for its signaling vs. gold and that signaling is turning counter-cyclical and anti-inflationary after a little false dawn amid the China hype. The signaling is that the false dawn aborted in March and we have a genuine negative global macro market signal in play if the breakdown holds.
Well, the breakdown in the Copper/Gold ratio is holding. Wouldn’t you say?
Also from #754:
Do you hear me Doctor Copper and your China reopening pump? Nothing is going to stop the macro if the US dollar and its fellow rider the Gold/Silver ratio get on their horses. The 2 Horsemen of the liquidity Apocalypse would address everything as a ‘market event’, regardless of longer-term supply/demand fundamentals.
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