Walmer Family Fund · Research
Practical frameworks for commodity investing — ratio analysis, macroeconomic timing, and technical execution. Written by the Walmer Family Fund research team.
Deep Dive — Gold/Silver RatioThe Gold/Silver ratio has been one of the most reliable contrarian indicators in commodity markets for centuries. In 2026, it is telling a clear story — and most investors are not listening.
Pillar I — Ratio AnalysisCurrency debasement, inflation, and geopolitical shocks can distort any single commodity price. But when you divide one commodity by another, the noise cancels out — leaving a signal that has guided investors for centuries.
Pillar II — Macroeconomic ConditionsRatio analysis tells you what is cheap. Macroeconomic analysis tells you whether the environment is ready to reward that cheapness. The two together produce a far more powerful signal than either alone.
Pillar III — Technical AnalysisA commodity can be cheap on a ratio basis and supported by macro tailwinds — and still fall another 30% before reversing. Technical analysis is the discipline that keeps you from buying too early and losing patience before the thesis plays out.
Deep Dive — Platinum/Gold RatioFor most of recorded history, platinum was the more expensive metal. Today, gold costs more than three times as much as platinum — a historic inversion that has never lasted. The data is telling a clear story.
All articles represent the research and opinions of the Walmer Family Fund team and are for educational purposes only. Read our full disclaimer.