Copper/Gold ratio declining, Silver/Gold ratio increasing


So copper has been weak due to lower China growth. The copper gold ratio has been going down, and this is correlated with a lower 10 year bond yield. This all started when Trump announced tariffs in 2018.




 











Now, when copper goes down, the copper production will go down and silver by-product production will decline as well. This translates into a higher silver price, because of less silver supply.



The silver/gold ratio is starting to move up now.







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