Head-to-head comparison
Gold-Silver Ratio vs Copper-Gold Ratio
Gold-silver ratio vs copper-gold ratio — which is the better macro signal?
Verdict
gold-silver-ratio wins
Copper-gold has the cleaner growth-regime signal and tracks 10-year yields.
One-year comparison
Left axis: Copper/Gold Ratio (green) · Right axis: gold-silver-ratio (blue)
The analysis
Gold-silver is a pure monetary/risk-sentiment metric (both metals hold store-of-value properties but silver has more industrial use). Copper-gold is a growth metric (copper cyclical, gold counter-cyclical). For recession signaling, copper-gold is cleaner. Gold-silver ratio spikes above 80 are risk-off markers but can be driven by idiosyncratic silver moves.
Indicator A
Copper/Gold Ratio
Track the copper-to-gold ratio — a powerful gauge of industrial confidence vs financial fear. Currently at 50-year lows below the 2008 crisis.
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Indicator B
gold-silver-ratio
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