For several years, a plot of copper divided by gold correlated well with the 10 year treasury yield ($TNX), that is until something this spring
turned over the apple cart. Sooner or later you'd think this correlation would return to normal which requires gold to rise or copper to fall or interest rates to rise or maybe a little bit of all of them. Given the FED's jackboot on the throat of rates, it's probably going to be up to the metals to sort this out. Any brave souls out there long gold and short copper?
Today is a risk window, but my preliminary look at next week shows Monday as one too, possibly as a pair with today, so this window might be a little wider than just today.
Regards,
Douglas
Edited by Douglas, 30 July 2021 - 05:01 AM.