OPEN-SOURCE SCRIPT
Gold Mining Margin MACRO
Gold Mining Margin Macro Indicator — Description
This indicator measures the structural profitability of gold mining by comparing the gold price with estimated production costs. It is designed as a macro-context tool, not a short-term trading signal.
The script tracks three core components:
Gold − AISC (All-In Sustaining Cost) → proxy for mining profitability
Energy-adjusted mining margin → incorporates oil as a major production cost input
Gold / Oil ratio → intermarket relationship between gold and energy costs
Together, these metrics help visualize the economic pressure or expansion phase of the gold mining sector.
What the indicator measures
The indicator estimates whether gold is trading:
near production-cost pressure levels
in a neutral profitability zone
in a strong mining-profit environment
or in a boom phase
A weekly regime classification is used to reduce noise and focus on macro-cycle conditions rather than short-term price fluctuations.
Primary use case
This indicator is intended to help identify:
potential gold price floor zones
mining-sector stress conditions
cyclical turning points in gold
confirmation context for cycle-based analysis
It works best when combined with:
cycle analysis
intermarket analysis
positioning data
macroeconomic context
Important note
The AISC value is user-defined and represents an approximate global industry cost level, not the cost of a specific mining company.
The indicator is meant to reflect sector-level economics, not individual equities.
This indicator measures the structural profitability of gold mining by comparing the gold price with estimated production costs. It is designed as a macro-context tool, not a short-term trading signal.
The script tracks three core components:
Gold − AISC (All-In Sustaining Cost) → proxy for mining profitability
Energy-adjusted mining margin → incorporates oil as a major production cost input
Gold / Oil ratio → intermarket relationship between gold and energy costs
Together, these metrics help visualize the economic pressure or expansion phase of the gold mining sector.
What the indicator measures
The indicator estimates whether gold is trading:
near production-cost pressure levels
in a neutral profitability zone
in a strong mining-profit environment
or in a boom phase
A weekly regime classification is used to reduce noise and focus on macro-cycle conditions rather than short-term price fluctuations.
Primary use case
This indicator is intended to help identify:
potential gold price floor zones
mining-sector stress conditions
cyclical turning points in gold
confirmation context for cycle-based analysis
It works best when combined with:
cycle analysis
intermarket analysis
positioning data
macroeconomic context
Important note
The AISC value is user-defined and represents an approximate global industry cost level, not the cost of a specific mining company.
The indicator is meant to reflect sector-level economics, not individual equities.
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開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。