Tavi Costa – X, Released on 2/12/25
The gold-to-oil ratio just hit its highest level ever on the monthly chart—excluding the COVID spike.
Who benefits the most from this?
Mining companies.
This directly impacts their margins, which are expanding significantly as metal prices climb.
Gold is up nearly $1,000/oz… pic.twitter.com/iewjzNNN1t
— Otavio (Tavi) Costa (@TaviCosta) February 12, 2025
Tavi Costa is a partner and portfolio manager at Crescat Capital and has been with the firm since 2013. He built Crescat’s macro model that identifies the current stage of the US economic cycle through a combination of 16 factors. His research has been featured in financial publications such as Bloomberg, The Wall Street Journal, CCN, Financial Post, The Globe and Mail, Real Vision, Reuters. Tavi is a native of São Paulo, Brazil and is fluent in Portuguese, Spanish, and English. Before joining Crescat, he worked with the underwriting of financial products and in international business at Braservice, a large logistics company in Brazil. Tavi graduated cum laude from Lindenwood University in St. Louis with a B.A. degree in Business Administration with an emphasis in finance and a minor in Spanish. Tavi played NCAA Division 1 tennis for Liberty University.