Copper is an indicator of risk-on environment. Gold is an indicator of risk aversion. What is the Copper-Gold ratio showing?
The monthly charts have been bullish as highlighted earlier here. KST gave a buy way back in 2020 and copper/ equities have done well so far.
The daily charts are showing some pullback. That is not alarming or suggesting the trend has come to an end. We will wait for the trendline (shown in blue) to be broken on the upside. This will confirm the trend is still up.