Copper/Gold ratio suggests a move higher for 10 Year Yields.

The traditional relationship between the Copper/Gold Ratio and US 10 year yields - which has proven sound over the longer term - is suggesting a potential up turn in US 10 Year Yields. One big caveat on this analysis is the Federal Reserve. Should Powell et al intervene at the longer end of the market, this will upset the ratio and send rates lower, even if demand (and therefore prices) for copper continues to grow next year.