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How many ounces of silver does it take to buy one ounce of gold? Track the ratio live with historical charts.
Gold/Silver Ratio
58.6 : 1
1 oz gold = 58.6 oz silver at current prices
Ratio in neutral range
Gold
$5,173.14
per oz
Silver
$88.28
per oz
The gold/silver ratio measures how many ounces of silver it takes to purchase one ounce of gold at current market prices. It's one of the oldest and most-watched metrics in precious metals investing, with records dating back to ancient civilizations.
A popular heuristic among precious metals investors suggests that when the ratio climbs above 80:1, silver may be undervalued relative to gold — potentially a signal to favor silver purchases. Conversely, when the ratio drops below 50:1, gold may offer better relative value. This is a guideline, not a guarantee, and should be considered alongside other factors.
Under the U.S. bimetallic standard, the ratio was legally fixed at about 15.5:1. Since the end of silver coinage in 1965 and the gold standard in 1971, the ratio has free-floated based on market forces. Modern extremes include under 20:1 in 1980 (when silver spiked) and over 120:1 in March 2020 (pandemic flight to gold). The 50-year average sits around 65:1.
The gold/silver ratio is the number of troy ounces of silver needed to buy one troy ounce of gold at current prices. It's calculated by dividing the gold spot price by the silver spot price. A ratio of 80:1 means gold is 80 times more expensive than silver per ounce.
Over the past 50 years, the gold/silver ratio has typically ranged between 40:1 and 90:1, with a long-term average around 65:1. The ratio hit historic extremes above 120:1 during the 2020 pandemic and dropped below 20:1 in 1980.
Some investors use the '80/50 rule' as a guideline: when the ratio is above 80, silver may be undervalued relative to gold (favor buying silver). When below 50, gold may be relatively cheaper (favor buying gold). This is a heuristic, not financial advice.
The ratio fluctuates based on supply and demand for each metal, industrial usage (silver has more industrial applications), investment demand, mining output, economic conditions, and monetary policy. Silver tends to be more volatile than gold.
Historically, the ratio was fixed at 15.5:1 under the bimetallic standard in the 1800s. The ratio has been free-floating since the end of bimetallism. In modern markets, it has ranged from about 15:1 (1980) to over 120:1 (2020).
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