Macro glossary

Copper-Gold Ratio

The ratio of the price of copper to the price of gold, used as a market-based growth and inflation signal.

Definition

Copper is a cyclical industrial metal; gold is a counter-cyclical safe haven. The copper-gold ratio tends to track 10-year Treasury yields and cyclical growth expectations. Sharp falls in the ratio historically coincide with global growth scares.

Related indicators

Copper/Gold Ratio

Track the copper-to-gold ratio — a powerful gauge of industrial confidence vs financial fear. Curren

Related terms

Recession Indicator

Any data series whose behavior reliably precedes or confirms a recession.

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