Derived · ounces of silver per ounce of gold
Gold/Silver Ratio
How many ounces of silver one ounce of gold buys, computed from the same reference prices shown on the gold and silver pages.
Live spot · observed 6 min ago · gold $4,147.50 ÷ silver $56.71
Gold/Silver ratio, computed from MarketsGrid canonical gold and silver histories on common observation dates.3,228 observations, simplified for display.History from Jan 1, 1960.
Where today’s ratio sits in history
Historical percentile
57th
Record high
123.49
Record low
16.40
Average of year-end values
55.81
52-week range
46.2 – 84.9
1-year change
−8.24%
5-year change
−4.12%
Observations
7,136
Change over time
| Period | From | Start | Change | Return | Annualised |
|---|---|---|---|---|---|
| 1 month | Sep 15, 2026 | 67.60 | +5.53 | +8.18% | — |
| 3 months | Jul 15, 2026 | 69.47 | +3.66 | +5.27% | — |
| Year to date | Dec 31, 2025 | 59.89 | +13.25 | +22.12% | — |
| 1 year | Oct 15, 2025 | 79.70 | −6.57 | −8.24% | — |
| 5 years | Oct 15, 2021 | 76.28 | −3.14 | −4.12% | −0.84% /yr |
| 10 years | Oct 14, 2016 | 71.65 | +1.48 | +2.07% | +0.20% /yr |
| 20 years | Oct 15, 2006 | 50.27 | +22.86 | +45.48% | +1.89% /yr |
| All history | Jan 1, 1960 | 38.89 | +34.24 | +88.06% | +0.95% /yr |
Year-end ratio
| Year | Start | End | Return |
|---|---|---|---|
| 2026YTD | 59.89 | 73.13 | +22.12% |
| 2025 | 89.64 | 59.89 | −33.19% |
| 2024 | 86.81 | 89.64 | +3.26% |
| 2023 | 75.10 | 86.81 | +15.60% |
| 2022 | 78.23 | 75.10 | −4.00% |
| 2021 | 71.27 | 78.23 | +9.76% |
| 2020 | 83.95 | 71.27 | −15.10% |
| 2019 | 82.70 | 83.95 | +1.50% |
| 2018 | 76.55 | 82.70 | +8.04% |
| 2017 | 70.56 | 76.55 | +8.49% |
| 2016 | 76.70 | 70.56 | −8.01% |
| 2015 | 75.52 | 76.70 | +1.57% |
| 2014 | 61.77 | 75.52 | +22.26% |
| 2013 | 55.34 | 61.77 | +11.61% |
| 2012 | 54.33 | 55.34 | +1.86% |
| 2011 | 45.89 | 54.33 | +18.40% |
| 2010 | 64.01 | 45.89 | −28.31% |
| 2009 | 80.61 | 64.01 | −20.59% |
| 2008 | 56.49 | 80.61 | +42.70% |
| 2007 | 48.88 | 56.49 | +15.57% |
What the gold/silver ratio means
The ratio is simply the gold price divided by the silver price: the number of ounces of silver that one ounce of gold buys. It has no fixed “correct” level. In the 20th century it swung from below 20 to above 100, and since the 1990s it has mostly ranged between roughly 45 and 95, with spikes during crises when gold’s safe-haven bid outpaced silver’s industrial demand.
Investors use it as a relative-value gauge: a historically high ratio suggests silver is cheap versus gold, a low ratio the reverse. Because silver is more volatile, the ratio tends to fall in metal bull markets (silver outperforms) and rise in downturns. The percentile above shows where today’s reading sits against every observation MarketsGrid holds.
The ratio here is computed from the same reference prices used across MarketsGrid: a live spot ratio when licensed feeds are configured, otherwise the daily or monthly reference ratio, labelled accordingly.