Copper/Gold ratio confirming favored macro view

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?

copper/gold ratio

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.

copper/gold ratio drops as market liquidity is under pressure

For “best of breed” top down analysis of all major markets, subscribe to NFTRH Premium, which includes an in-depth weekly market report, detailed market updates and NFTRH+ dynamic updates and chart/trade setup ideas. Subscribe by Credit Card or PayPal using a link on the right sidebar (if using a mobile device you may need to scroll down) or see all options and more info. Keep up to date with actionable public content at by using the email form on the right sidebar. Follow via Twitter@NFTRHgt.