If global growth is going to pick up, you’ll likely see it first in the copper to gold ratio.
Historically, it moves in lockstep with the 10 year yield — and right now, there’s a glaring gap. If that gap closes, copper’s about to get loud.
And it’s already whispering.
Copper just hit a 52 week high.
International stocks are starting to hum.
Momentum always shows up quietly before it slams the door.
Here’s the kicker: global growth isn’t being driven by the usual suspects. It’s not the U.S. or Europe. It’s the rest of the world — emerging market and developing economies are growing at 4.2%, more than double the 1.8% of advanced economies.
The world is moving at 3.2%, and the heavy lifting is coming from places most investors still ignore.
That matters. Because copper doesn’t just track growth — it sniffs it out early. And right now, it smells something big.
(TLDR) Why we think copper moves higher from here:
Copper just broke out to a new 52 week high
International equities are gaining momentum alongside it
