DXY
—
Dollar Index
Inverse correlator — rising DXY suppresses gold demand globally
Brent Crude
—
Oil $/bbl
Higher oil → inflation fears → delayed rate cuts → gold headwind
Fed Rate
—
Funds rate
Opportunity cost of holding zero-yield gold
10Y Yield
—
Treasury
Positive real yields = bonds compete with gold as safe haven
Silver XAG
—
Spot price
Silver amplifies gold moves; ratio above 80 = stress
Au/Ag Ratio
—
Gold/Silver
Historical avg ~65; elevated ratio = silver under stress
CPI YoY
—
Consumer inflation
Above 3% = persistent inflation; gold benefits long-term
PPI MoM
—
Wholesale inflation
PPI leads CPI by 1-3 months
Core PCE
—
Fed's preferred gauge
Fed targets 2%; above 2.5% keeps cuts off the table
GDP QoQ
—
Growth rate
Slow GDP + rising inflation = stagflation — gold's best environment