In fall 2012 there was a silver to copper ratio of 9.2 and gold to copper of 471. Now there is silver to copper of 7.6 and gold to copper of 463, though little changed in terms of inflation expectations and forecasts of economic growth. This is highly unlikely the current ratio is going to stand for long. Otherwise, the copper price would untie from the prices of the precious metals! I suggest the copper is going to get down to 2.9.