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Intermarket decision context
Prioritized precious-metals and macro ratios — leadership, regime, miner confirmation, and extremes — without collapsing Physical, Macro, and Sentiment into one opaque score.
Which asset is leading?
Gold is leading silver (Au/Ag 66.7, rising).
What regime does that suggest?
Suggested regime: Au/Ag is not at a clear historical extreme; rising Gold/Copper leans risk-off versus industrial metals.
Is the move confirmed?
Miners are confirming the precious-metals move (GDX firm vs gold) while gold leads silver.
Near a historical extreme?
No flagship ratio is at a 1Y extreme; watch mid-range mean-reversion only with confirmation.
What to watch next
Conclusions prioritize flagship ratios. Supporting ratios refine — they do not override — leadership and regime.
Master score not activated
Priority 1 — drives the conclusion
leadership
66.70
-1.11%
Gold/Silver Ratio at 66.7: Silver leadership / cyclical precious-metals tilt.
miner confirmation
44.36
-1.12%
Gold / GDX Ratio at 44.4: Miners leading bullion (equity confirmation).
Refine — do not override — flagship
macro regime
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—
Gold / DXY Ratio is unavailable — both legs are required.
risk on off
699.86
+0.41%
Gold / Copper Ratio at 699.9: Risk-off / growth-scare tilt (gold vs industrial metal).
miner confirmation
0.671
-0.85%
Silver / SIL Ratio at 0.671: Silver miners leading bullion.
risk on off
5.979
-0.30%
Gold / SPY Ratio at 5.979: no clear short-term leadership skew.
Ratios from licensed market quotes (Twelve Data). History uses aligned daily closes when available. Gold/Silver Ratio is a macro/regime signal — not a Physical Tightness input. Methodology RATIO-INTEL-1.0.
Gold/Silver Ratio
70.21
How many ounces of silver equal one ounce of gold. Gold outperforming silver