The logic that energy follows precious metals' rise sounds reasonable, but a closer look reveals that the signals behind the three major commodities are completely different.

What does gold represent? A bet on a collapsing world. What about copper? A wager on technological optimism. Oil, on the other hand, reflects the conclusion of growth.

According to Smil's theory, the four pillars of modern civilization have stagnated or declined. From this perspective, a smarter trading approach is to short oil and copper—they don't have convincing fundamental stories. Gold's movement is independent; don't confuse it with the others.