All Star Charts Gold Rush Articles

For months now, we’ve been pounding the table on Copper. 

Now, the trade is on fire. Copper futures had their best day ever on Tuesday after news of new tariffs from the Trump campaign.

This move also resulted in the first overbought reading on the 14-day RSI since March, marking the beginning of a new bullish momentum regime.

We've also been betting on the miners playing catch-up, and sure enough, that's working, too.

But as strong as that move was, Copper isn’t alone. 

Gold rang the dinner bell over a year ago with new all-time highs in March 2024. 

Since then, we've watched precious metals like Silver,...

Everyone keeps assuming the Fed is done. That rates peaked in 2023. That the next move is down. That the cycle has run its course and we’re heading back to easy money.

But here’s the thing: the market says otherwise.

The 30-year yield has been grinding higher for most of 2025—not violently, not emotionally, just relentlessly. 

Quiet pressure. And when you see that kind of persistent strength at the long end, while the Fed Funds rate sits frozen? That’s not noise. That’s not a shrug. That’s a message.

And this pattern? We’ve seen it before. 

In 2018, the Fed hiked into weakness. The 30-year had already peaked, already started to roll over. The bond market was waving red flags. Powell didn’t listen. They pushed one step too far, broke the system, and were forced to reverse course.

The market knew first. The Fed caught up too late.

Then in 2024, it happened again—only flipped.

The Fed started cutting. But the 30-year? It didn’t follow. It rose. Why? Because that cut wasn’t about collapsing demand. It was...

We’ve spent the better part of this year highlighting one breakout after another against the Greenback. The evidence is everywhere you look. 

Emerging-market currencies, developed-market FX, precious metals, and international equities. All these things are working.

This is more than just a handful of datapoints. It’s textbook intermarket behavior. And it’s what a weak dollar cycle looks like. 

If you’re still trying to figure out where to put your money when the Dollar’s trending lower, you don’t have to guess. History has made it clear:

This is the All Star Charts Weak Dollar Composite, a custom index we built to track this basket of assets. They all have one very important thing in common: they outperform when the Dollar is falling.

See how tight that inverse relationship is?

When the Dollar is in bullish regimes, these assets take a back seat. When the Dollar is in a bearish regime, they tend to lead. 

And it’s not just this cycle. You can zoom out forever and see this intermarket action repeat throughout history. We’ve seen it before...

It’s a brand-new month and quarter for precious metals, and the tape is firing on all cylinders.

The big-picture trend is simple... we’re in a secular bull market.

Gold kicked things off when it broke out to new all-time highs in March 2024. 

Since then, Silver and Platinum have resolved multi-year bases of their own. 

Both printed their highest quarterly closes in over a decade to finish Q2. 

And now, another laggard is setting up to catch fire... Palladium.

The best part? Seasonality is lining up right on cue.

Let’s break down what the data and charts are telling us.

Last week, we wrote about Copper futures breaking out to all-time highs, while the Copper Miners ETF $COPX is starting to play catch-up. 

The three copper miner trades we outlined for premium members last week are soaring to new highs. We think there's a tremendous amount of upside remaining.

That rally isn’t happening in a vacuum. 

It’s part of a much larger shift we’re seeing across the entire Base Metals space.

After years of choppy sideways action, Industrial Metals are beginning to trend again. 

Breakouts are happening. 

Leadership is expanding. 

And just like Copper, we’re now seeing signs of accumulation and strength in other key areas.

Let’s take a closer look at the...

Copper just made history.

The price closed June with its highest monthly close ever.

We have the data:

Copper futures are printing fresh all-time highs after resolving a prolonged accumulation pattern.

And when copper moves, it isn’t just about metals—it’s about yields, growth, and what comes next.

Next up is a chart of the Copper/Gold ratio versus the 10-year yield. 

Forget the recent noise, for decades, long-term yields have followed the Copper/Gold ratio. 

When Dr. Copper outperforms, yields rise. 

Every time.

Why? Because copper is associated with construction, production, and demand. 

It’s the heartbeat of the real global economy. 

Gold is fear. Copper is action.

When Copper leads, the market’s not bracing for collapse. Instead, it’s pricing in growth.

This is one of the biggest divergences we've ever seen:

In recent years, the Copper/Gold ratio and the 10Y yield have carved out one of the largest divergences in history.

And now we're seeing early signals that the ratio is going to reverse higher...

It has been a blockbuster year for precious metals, and the latest monthly and quarterly closes reiterated it.

The entire precious metals complex is breaking out of long-term bases. 

These patterns are the classic signature of new secular bull markets. 

Gold rang the bell first, but now its peers are joining the charge.

Let’s dive into what the data is showing us.

We’ve been pounding the table on Copper futures since China started ripping last year.

However, it has been a slower start than we anticipated.

Now, our patience is being rewarded... We're seeing evidence that the trade is heating up.

Copper futures are trading at fresh all-time highs as they play catch-up with Gold futures.

We're also beginning to see the Copper miners play catch-up to the underlying commodity.

This has been on our radar for months, but we've only recently seen significant changes.

The red line represents Copper futures, and the blue candlesticks represent the Global X Copper Miners ETF $COPX. 

Historically, these two have danced together.

However, that relationship broke down earlier this year as the futures reached new...

The team and I have been digging through our currency charts today, trying to figure out if we should trust these new lows in the Dollar Index.

And the truth is, there is plenty we could say about dollars right now, but I don’t think it would help.

The Dollar Index is going to go in the opposite direction of these bull flags in EUR and GBP.

It’s really that simple. 

And as far as other currencies go, I think we can expect them to follow the majors. Some of them are already breaking out. 

Remember, the major developed currencies started trending well against the dollar first, and then emerging currencies gradually followed. 

I expect that intermarket cadence will continue during the next wave of dollar weakness.

And it looks like it already is. Here’s the Euro and Pound resolving their coils higher against USD:

Both of these currencies ramped to fresh multi-year highs in April and have been consolidating in continuation patterns ever since.

This action reminds me of some of the ...

It’s happening.

After years of waiting, the entire precious metals complex is finally coming to life, and the charts confirm it.

Gold broke out first. 

Now, Silver, Platinum, and the miners are joining in. 

Our Equal-Weight Precious Metals Index is printing fresh all-time highs, marking what we believe is the beginning of a new secular uptrend.

Miners are starting to lead. 

Risk appetite is returning. 

And short sellers? They’re getting squeezed.

This week, we’re reviewing the latest breakout setups in the metals space, including a small-cap Silver name retesting a key level with explosive upside potential.

Every major commodity boom of the last 25 years has followed the same blueprint:

🔺 CRB Index starts curling higher
🔺 Yield curve inverts… then steepens
🔺 And commodities don’t just rally—they detonate.

Look at the chart. 

2001 → Inversion → Steepening → Oil +300%
2006 → Same setup → Same outcome
2020 → Rinse and repeat

And now?

It’s happening again.

The CRB is coiling just beneath multi-year resistance. The kind of tight, coiled spring that doesn’t let go gently. Momentum is building. The yield curve—the most reliable forward indicator we’ve got—is turning up from historic depths.

This isn’t some lagging inflation print. This isn’t a Fed narrative. This is price. And price is truth.

This is a setup that only comes around a few times in a generation. Most investors sleep through it. They wait for confirmation. They miss it.

But not you.

Hemingway once said bankruptcy happens two ways: gradually, then suddenly. Commodity cycles are the same. They creep. They churn. Then they rip.

...

Grain markets are showing signs of life.

After a brutal multi-year collapse, many major agricultural contracts are starting to perk up. 

The short-term and intermediate-term trends are beginning to point higher. 

Momentum is entering a new bullish regime. 

And participation is expanding.

We’ve already outlined bullish setups in the futures for Corn, Soybeans, and Soybean Oil. 

These contracts have been carving out bottoms, and they're starting to resolve higher from well-defined bases. 

Now, we're seeing more of the same.

The short-term strength is hard to ignore.