Gold spot against the 10-year US real yield (TIPS) — gold's canonical macro driver.
How to read Gold has historically co-moved INVERSELY with real yields (and the dollar). A present-state read of where gold sits versus the real-rate backdrop.
A co-movement, not a law — the gold↔real-yield link loosens (e.g. heavy central-bank buying); never read as a forecast of either. World Gold Council demand/flows are deferred (licensing).
The price of gold (the monetary haven) over silver (a monetary + industrial hybrid) — a classic precious-metals relative-value gauge.
How to read A high ratio describes a risk-off / weak-industrial present regime (gold outpacing industrial silver); a low ratio reflation. Descriptive, vs its own average.