Gold/Silver Ratio Tracker

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).