Copper Vs. Gold & US 10-year Treasury Yield

This chart is a ratio chart of the Copper ($HG) Vs. Gold ($GC) & 10-year Treasury Yield. The ratio is often used to gauge risk appetite.

Bulls want to see this ratio moving higher, Copper tends to rise relative to gold as growth expectations improve ( bullish sentiment), and Copper tends to fall as growth expectations fade ( bearish sentiment)

The bad news for Bulls is that this ratio is diverging from the 10-year Treasury Yield. Treasury yields typically rise as confidence in the economy improves, and it tends to fall as growth expectations fade.

I would like to emphasize that the Bulls would need to see the 10-year Treasury Yield close the gap and move upwards. If it fails to do so, it could spell trouble quickly.

#copper #gold $GC_F $HG_F $TNX

@granthawkridge <---- follow me on twitter for more charts!


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