Chart of the Day - Tuesday, October 20th, 2020
October 20, 2020
Today’s Chart of the Day was shared on Twitter by Matthew Timpane (@mtimpane). It's a chart of the Copper/Gold ratio over the past decade. Copper reached a two year high today, pushing the Copper/Gold ratio to the highest level since February. The Copper/Gold ratio is highly correlated to the 10-year US Treasury yield. Pull up a chart of the two overlayed, and you'll notice they pretty much move in lockstep. If this ratio continues to push above long-term resistance, it would be logical to see interest rates head higher as well. Stay tuned!