The gold/silver ratio recently took out 2009 highs and the gold/copper ratio is at its highest level since 2009. This is a negative signal that US inflation, using CPI, could be headed for another leg lower. Since 2008, the gold/silver ratio has had a -73% correlation to the year-over-year change in US CPI (with a 2-quarter forward lag for the gold/silver ratio) . So as the gold/silver ratio increases, the year-over-year change in the CPI tends to fall.