Doc Copper and Gold have both done well this year. Doc Copper has been the stronger of the two, reflected in the chart below:

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The strength in Doc Copper has the Copper/Gold ratio below doing something it hasn’t done in a long time!

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The Doc Copper/Gold ratio has remained inside of rising channel (1) for the past decade. The ratio of late is now breaking below 10-year rising support at (2).

When attempting to decide on what metals to own, this break of 10-year rising support could be sending a very important message to the metals market and could be sending an important macro message as well.